Taking a quantitative approach to a matter means that ignoring a great deal of knowledge to urge a simplified illustration amenable to mathematical modeling.
For example, if we wish to grasp however intelligence affects financial gain we would perform a applied math analysis of IQ versus assessable financial gain reportable to the government agency. IQ doesn't live each facet of intelligence, and line 11b of last year’s 1040 kind doesn't live each facet of financial gain.
Of course, a quantitative investigator would possibly use a lot of complicated measures for intelligence and financial gain, however but several numbers ar tabulated, they won’t capture the total qualitative quality of the ideas of intelligence and financial gain.
The advantage of quantitative simplification is we will apply powerful, objective, rigorous strategies to the information. we will handle giant amounts of knowledge with efficiency and take a look at complicated models.
The disadvantage is everything we have a tendency to pass over. A qualitative investigator would possibly study many people full, and investigate elaborate individual links between intelligence and financial gain. the foremost vital conclusions might prove to be ones invisible to the quantitative investigator.
Pros:
- Permits formulation of statistically sound hypotheses with no space for emotional style.
- Probabilistic reasoning and prediction permits sound implementation and therefore rigorous analysis of quantitative hypotheses.
- Enables analysis of multiple datasets and hypotheses, quicker and a lot of accurately than any human brain may ever perform.
- Time-consuming manual implementations of concepts are often machine-driven and therefore performed exponentially quicker.
Cons:
- Requires constant (or periodic) observance of model performance to make sure continuing compliance with original hypotheses -> that is time overwhelming.
- Inadequate quality of coaching information employed in model construction will result in inaccurate or maybe black model performance on unseen information.
- Requires a deep background in multiple complicated disciplines that ar laborious to master for the typical person - therefore restricted offer of Quants (which may be a sensible issue actually).
Post a Comment for "Pros and Cons of Using Quantitative Research"