Quantitative Methods in Decsion Making Essay

1558 Words 7 Pages
Decision Making
Betty Pittman
Grand Canyon University
Quantitative Methods
November 16, 2011

Decision Making Analytics competitors are leaders in their varied fields consumer products, finance, retail, and entertainment. For organizations to become and prosper as an analytics competitor they must use analytics data because many industries offer similar products and use comparable technologies, business processes are among the last remaining points of differentiation. And analytics competitors use every possible analytics value from these processes. In order for organizations to prosper they must know what products their customers want, what prices those customers will pay, how many items each will buy
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This supplement the quantitative analysis views on the gathering of data to be used for making decisions and problem solving. Quantitative analysis is based on the fact that social phenomenal can be qualified and expressed numerically and therefore can be analyzed using statistical methods. The fact that observation plays an important role in quantitative analysis shows that by collecting relevant and accuracy information data that pertain to the problems will cause a decision to be made in a timely manner. When undertaking quantitative analysis research a researcher should take into consideration ethical issues such as confidentiality and anonymity. Another factor to be considered is the sampling method to be used and how this will aid in answering the research question. Ethical principles provide the foundations for various modern concepts for work, business and organizations, which broaden individual and corporate priorities far beyond traditional business aims of profit and shareholder enrichment. I feel that ethics in work and business are both a reflection of and influenced by ethical aspects of life and the wider world. There are no universally agreed rules of ethics, no absolute standards or controls, and no fixed and firm reference points. This is fascinating given how hugely important ethics have now become in modern life and society. When I define ethical behavior I think of being “fair,” and when you deal with analysis you have to be

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