Quantitative business analysis is a vital skill for professionals in a wide variety of industries and

roles. The value of quantitative business analysis is clear for professionals across much of the
global economy, especially those who have to make important decisions. Quantitative
Techniques help in the field of production, marketing, finance and other activities of
business. A quantitative technique enables a manager to optimally allocate the resources of a
business or industry. These tools help the manager to provide a more precise description and
solution of the problem. The solutions obtained by using quantitative techniques are often free
from the bias of the manager or the owner of the business. Quantitative techniques provide
solutions to almost every area of a business.

The following why I think “ Quantitative Tools in Business” is needed for

Executive / Top-level managers or mid-level managers of a business organization.

1. To facilitate the decision making process.

2..To provide tools for scientific research.
3.To select an appropriate strategy.
4.To help in reduction of cost.
5.To have proper deployment of resources.
6.To help in minimizing the time required for completing the task.

7.Models force managers to be explicit about objectives.

8.Models force managers to identify and record the types of decisions
(decision variables) that influence objectives.
9. Models force managers to identify and record pertinent interactions and trade-off
between decision variables.
10. Models force managers to record constraints (limitations) on the values that
variables may assume.

In modern times, the managers are exposed to different software such as SPSS, EXCEL, SAS,
SAP, EViews so that the decision making process becomes not only scientific but also reliable.
Thus quantitative techniques provide a scientific base for meeting with uncertainty of
future. No doubt, these uncertainties cannot be eliminated but quantitative techniques
help in minimizing problems of the business. Quantitative techniques enforce
disciplined thinking about organizational problems. They provide precise description of
the cause and effect relationship and risk elimination. Quantitative techniques replace
subjective and intuitive approach with analytical and objective approach. Quantitative
techniques help in the proper allocation of resources which save time of the Executive /
Top-level managers or mid-level managers.
From all of the discussion I think “ Quantitative Tools in Business” is needed for
Executive / Top-level managers or mid-level managers of a business organization.