Business – 3.2 Market research – Market research data | e-Consult
3.2 Market research – Market research data (1 questions)
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Differences
- Quantitative data is numerical, measurable and can be expressed in numbers (e.g., sales revenue, number of units sold).
- Qualitative data is descriptive, non‑numerical and captures qualities, opinions or attitudes (e.g., customer comments, interview transcripts).
Examples
- Quantitative: Monthly profit (£), Number of new customers per quarter.
- Qualitative: Customer satisfaction interview excerpts, Employee focus‑group feedback on workplace culture.
Analytical techniques
- Quantitative: statistical analysis (mean, median, standard deviation), regression, correlation, charts such as histograms or line graphs.
- Qualitative: thematic analysis, content analysis, coding of responses, use of word clouds or narrative summaries.