How is "quantitative analysis" defined?

Quantitative analysis is defined as the application of statistical techniques to analyze numerical data. This field relies on measurable data to quantify behaviors, outcomes, and phenomena, allowing researchers and decision-makers to derive insights based on empirical evidence. By using statistical tools, analysts can identify patterns, trends, correlations, and causal relationships within the data, making this approach essential for informed decision-making in various business and research contexts.

This method is especially useful in situations where large datasets are available, as it provides a structured way to interpret and draw conclusions from that data effectively. In contrast, the other options focus on qualitative aspects or methods that do not directly involve numerical data analysis. For instance, assessing qualitative data provides context but does not involve statistical analysis, while gathering data through observation emphasizes data collection over analysis. Evaluating case studies can identify trends but lacks the quantitative element that characterizes quantitative analysis.