Quantitative research usually involves
massive amounts of data; that is, the greater the
number of cases studied, the more accurate and representative the outcome of study
ought to be (Slater 1990). This method is appropriately used for certain forms of
behaviour which can only be performed if concepts are quantifiable (Mann 1990). For
example,
if a customer defaults in payment, the bank can take action when there's a
proof of exact amount of default and frequency of default. The bank cannot solely rely
on
its officer saying the customer has defaulted. One of the most important features of
quantitative research is that it is highly structured and produces data which is open to
statistical analysis. Surveys, tests, structured interviews, laboratory experiments and
non-participant observation are usually categorized as quantitative data collection
methods. Results of quantitative research are presented in the form of descriptive or
complex statistics, like tests of significance, correlation and regression analysis
(Scanlon 2000). In short, it is concerned with presenting findings in a numerical form.