2.14. Qualitative and Quantitative Analysis
Making business decisions requires accurate and reliable information; without it, for example, a decision can result in excess inventory rather than increased profits because demand for the product was less than projected. Since there are no crystal balls in the boardroom, business leaders must rely on the judgment of experienced managers and an analysis of historical data to predict possible future trends.
There are two types of research, primary and secondary. Primary research is original, meaning that the researcher has performed the research. Secondary research is based on information that has been collected or reported by others, such as books or articles by primary researchers, industry standards, ...
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