In forming strategy, what is more important: qualitative information and intuition, or quantitative data? Why? Are...
In forming strategy, what is more important: qualitative information and intuition, or quantitative data? Why? Are there any exceptions to your opinion? I need a original answer, not the same answer from other expert's answer.
Homework Answers
qualitative information and quantitative information complement each other, so one information should be used to support the another information while forming a strategy. Though, with presence of historical data, past trends and statistics, quantitative data or information is used. Analysis such as regression analysis, determinant, cluster and factor analysis are used to form the strategy.
when the topic is new, futuristic with no past data available, qualitative data collected from experts, such as Delphi method, is used. Though, both the qualitative information and quantitative information should be used so that strategy will have higher probability of success.
Exceptions only take place when there is no data is available, in this case futuristic projections are made using simulation based scenarios to form the strategy.
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