Abstract
This paper is to help view the trend in quantitative analysis as a primary function that involves decision making at every level in the organisation. The study involved the identification of recent trends in quantitative analysis, quantitative analysis as a primary function and its impact on decision making in the organisation. Quantitative analysis is an effective tool for statistical methods, e.g. big data analysis, machine learning, network analysis, operational analysis, etc. These analysis aids decision that is made within the confines of the organisation and its environment. The times are changing with a high rate of varieties in quantitative analytical trends. It has become imperative to follow these trends for enhanced decision making in today’s contemporary organisation.
Highlights
Decision-making process involves proper and efficient implementation of strategic plans and methods to achieve desired business objective [1]
This paper is to help view the trend in quantitative analysis as a primary function that involves decision making at every level in the organisation
The study involved the identification of recent trends in quantitative analysis, quantitative analysis as a primary function and its impact on decision making in the organisation
Summary
Decision-making process involves proper and efficient implementation of strategic plans and methods to achieve desired business objective [1]. Quantitative analysis is an effective managerial tool that often times is neglected, relegated and delegated: managers must understand that in order to make a decision that keeps the business flying, quantitative measures are a prerequisite in carrying out certain function and making certain choices and decisions. These quantitative measures cover cost and profit analysis involving product costing, budgeting, purchasing, insurance, planning, remuneration, investments, and savings. This paper is a theoretical review on the recent quantitative analytical trends involving decision making in any organisation and to add to existing knowledge
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