When collecting variable data for business purposes, you will likely choose between qualitative or quantitative business research. This research may be necessary when you are seeking customer feedback on your brand or services or when you want to conduct market research on a newly launched product.
Some business owners conduct this research when testing new business ideas and looking for consumer validation. There are several other purposes for which these two types of research can be helpful.
The importance of quantitative and qualitative business research
According to the Academia research publishing platform, business statistical research has become a valuable tool for creating approximate solutions when the actual business process becomes too complex and has unpredictable outcomes.
Making assumptions in business processes can be dangerous for the growth and survival of an organization. Quantitative and qualitative research helps eliminate guesswork and provides real-time data that any business expert can interpret to resolve business issues.
Features and uses of quantitative business research
Quantitative business research and analysis is beneficial to measure a business term or model objectively using mathematical or statistical instruments. When conducting quantitative business research, you will handle raw data using tools such as Microsoft Excel, SPSS, or other types of spreadsheet software.
To complete quantitative business research, you must structure your collected data through market research methods such as experiments and surveys. Quantitative business research is more elaborate and takes more time than qualitative research.
If, for example, you want to find the average height of football players in the NFL, you will have to randomly select players from different teams and call each player in person or on the phone and ask for their height measurements. Once the survey is completed, you will need a mathematical formula to calculate their average height.
Features and uses of qualitative business research
In most cases, qualitative business research is more straightforward than quantitative business research. This type of research is more explanatory and unstructured, and it does not require any data analysis software or mathematical formula.
The researcher, in this case, is interested in using something other than statistical analysis to test the statement hypothesis and gain insights about the business topic. Some good examples of qualitative business research are focus groups and interviews. You can organize data from the qualitative analysis into a coded response that you can quickly summarize in illustrations such as charts and graphs.
The differences between quantitative and qualitative business research
Here is a look at some of the most striking differences between qualitative and quantitative business research.
- Quantitative research is expressed in numbers, while qualitative research is expressed in words.
- Quantitative research establishes generalized facts; qualitative research helps explain concepts and experiences.
- Quantitative research focuses on direct questions, and qualitative research relies on interviews and open-ended questions.
- Quantitative analysis requires many sampled respondents, while qualitative analysis requires fewer participants.
What do quantitative and qualitative business research have in common?
Despite their striking differences, some features are standard in qualitative and quantitative business research. For example, both research methodologies are subjected to certain biases, including recall and observer biases.
Research biases like omitted variables and sampling errors tend to be more prominent in quantitative analysis, while social desirability biases are more prominent in qualitative business research.
Sometimes, both quantitative and qualitative research methods will require illustration tools such as charts, tables and graphs to explain data. These instruments are more prominent in quantitative research methods, however.
Combining quantitative and qualitative business research is possible, especially when more detailed information is desired.
Many experts believe that quantitative business research can be more expensive than qualitative analysis given the average amount of resources invested in the necessary tools. However, qualitative business research may also be expensive when the volume of responses is high and when traveling and handling costs are added.
How an advanced online degree can boost your business research skills
You will need more classroom and hands-on practical skills to deploy and complete quantitative and qualitative business research. Today, medium and large organizations are willing to pay top wages to business analysts who can demonstrate their abilities to conduct and apply results from business research to bring growth and development.
An online Doctor of Business Administration course is designed for mid-level to senior business professionals who intend to transfer their theoretical knowledge to accurate business decisions through research and innovation. These students will apply their research skills and classroom learning to their current and future work demands. The program emphasizes using practical knowledge to handle real-time complex business challenges.
According to the US Bureau of Labor Statistics, the median annual salary of chief executives was $179,520 in 2022. The organization also reported entry-level management analysts with a DBA earned an average of $93,000, while senior business analysts with a DBA earned an average of $103,180 in 2022.
The online curriculum
The online DBA program is an advanced degree that emphasizes quantitative and qualitative business research in resolving complex business issues and concepts. Programs like the one offered by Aston University Online will enhance critical thinking and problem resolution skills through research analysis.
In addition to these main courses, students will also take research methodology courses that provide them with a thorough understanding of ways to handle research demands. Students will also complete a doctoral dissertation. An online DBA can take two to three years. Identifying and enrolling in a specific area of specialization within a DBA program is also possible.
Conclusion
Possessing excellent research skills can help you pursue executive roles or work as a business consultant. Many organizations seek highly skilled individuals who can investigate complex business issues and proffer solutions through research outcomes.
