Business Research
Understanding Business Research Terms & Concepts Part 2
I did some research in the University library and found a couple of interesting articles once again on inventory control and the different research methods with Inventory. I found that one of my articles was on the descriptive statistical method and one was on the inferential method.
My first article was about the descriptive statistical method. Descriptive statistical method is used when using a variety of information and taking those numbers and determining like age groups or things and making a graph of statistics based on information and backgrounds given. My article gave some good insight on the strengths and weaknesses of this approach and how the information coming in is distributed and used in our research. My article went on to talk about that they had 928 voluntary subjects with an age mean of 30 years old. Which then they took this data and realized that individuals under 30 scored significantly higher than other individuals in the study. This article also discussed the properties and how the relationship of age consisted with the results.
In my second article, it discussed the inferential method. This method is used when taking data and equating it out.
I believe in my line of work that the quantitative research method would work the best to resolve most of our issues because it comes right down to it being all about the numbers in my work place. If we are short or over on any particular parts we must be able to look back in our inventory history and determine by the numbers what went wrong and where. While determining this information, we must be able to identify this information in order to be the most effective and most efficient in my work place.
In conclusion, both research methods have their strengths and weaknesses and we must be able to identify what we are trying to accomplish