TermiKnowledge - Supply Chain, Procurement and Inventory Terminologies
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Quantitative quantities or quantity is a physical property which can exist in a multitude or total magnitude, that demonstrate continuity and discontinuity. Quantities are normally compared in terms of "less" or "more" and often by assigning an arbitrary quantitative value in relation to a specific unit of measurement, like ounces, pounds, grams, or minutes. Quantitative quantities may also refer to statistical data that are expressed as values of numerical values in a certain period or range. These may represent the results obtained through historical research, surveys, or are used in computerized systems.

Quantitative methods are used in many physical sciences for example, optical microscopy, electron microscopy, x-ray fluorescence, etc. A wide variety of quantitative methods are applied in chemistry, physics, astronomy, computer science and engineering. Quantitative methods are widely used in medicine and dentistry as well as in other branches of physical sciences. There are also applications in the industrial and commercial sectors. Many companies use quantitative methods in order to analyze the products they produce, such as quality assurance, cost reduction, quality monitoring, etc., as well as in making product specification and predicting behavior of their products under various operating conditions.

Quantitative analysis is based on the principle of Occlusal Equivalence. In other words, the same set of physical quantities can be substituted for one another given the proper statistical framework. Quantitative analysis is used extensively in social sciences in order to test theories, develop models, predict outcomes of research questions, or detect trends and relationships among variables. Examples include ranking methods, sampling methods, economic models, panel data analysis, etc. The main goal of quantitative research is to draw general conclusions about a topic by obtaining reliable statistical correlations between observed data. In other words, quantitative research questions are to solve a problem by applying statistical methods that are supported by the scientific theories that are being tested.

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