Question

Reflect upon the vast array of quantitative business analysis methods, how you will apply them in your current job or how you would expect to use them in future positions.

Answer 1

The some of the most popular quantitative business analysis methods are:

• Regression analysis
• Linear Programming
• Factor Analysis
• Data Mining

In my current role, I can make use of the regression analysis to analyze how various factors can affect the performance of the sales team. The performance of the sales team will have an effect on the company's profit. I can also make use of the linear programming to find the required balance in the sales team to achieve optimum sales targets. The optimum sales targets will increase the company revenue. I can use the factor analysis to conduct surveys and to analyze the data to identify the trends in the data. The Data mining can be used to mine the customer data from different data sources and study how it can help us in improving our sales performance in a specific market. I would use these techniques in the future for the same purpose but the situation might change. They would still serve the same purpose and the amount of data analyzed and the size of the sales team might differ in the future.