This paper is to help view the trend in quantitative analysis as a primary function that involves decision making at every level in the organisation. The study involved the identification of recent trends in quantitative analysis, quantitative analysis as a primary function and its impact on decision making in the organisation. Quantitative analysis is an effective tool for statistical methods, e.g. big data analysis, machine learning, network analysis, operational analysis, etc. These analysis aids decision that is made within the confines of the organisation and its environment. The times are changing with a high rate of varieties in quantitative analytical trends. It has become imperative to follow these trends for enhanced decision making in today’s contemporary organisation.
KeywordsTrendQuantitative AnalysisDecision Making
Ehlers, T. and Lazenby, K. (2007) Strategic Management: Southern African Concept and Cases. Van Schaik Publishers, Pretoria.
Dunn, W.N. (1994) Public Policy Analysis: An Introduction. Prentice Hall, Upper Saddle River.
Valero, C.A. (1997) Applications of Qualitative and Quantitative Techniques of Management in Administrative/Academic Decision Making in Institutions of Higher Education in Virginia. Dissertation Submitted to the Faculty of the Virginia Polytechnic Institute and State University, Blacksburg.
Bagshaw, K.B. (2017) Process and Product Design: Production Efficiency of Manufacturing Firms in Rivers State, Nigeria. Engineering Management Research, 6, 49-55. https://doi.org/10.5539/emr.v6n1p49
Edmonds, J. and Giles, R. (1977) A Min-Max Relation for Submodular Functions on Graphs. Studies in Integer Programming. Annals of Discrete Mathematics, 1, 185-204. https://doi.org/10.1016/S0167-5060(08)70734-9
Dantzig, G.B. (1947) Maximization of a Linear Function of Variables Subject to Linear Inequalities. In: Koopmans, T.C., Ed., Activity Analysis of Production and Allocation, Wiley & Chapman-Hall, New York, London, 339-347.
Donald, W. (2013) Inventory Control and Management. 2nd Edition, John Wiley India Pvt. Limited, Hoboken.
Sundarapandian, V. (2009) “7 Queuing Theory”, Probability, Statistics and Queuing Theory. PHI Learning, New Delhi.
Mac’ódo, D.S. (1999) Statistics for Decision Making. Linnet Paul Publishers, Port Harcourt.
Prasad, L.M. (2004) Principles and Practices of Management. Sultan Chand, New Delhi.
Miller, C.C. and Ireland, R.D. (2005) Intuition in Strategic Decision Making: Friend or Foe in the Fast-Paced 21st Century? Academy of Management Executive, 19, 19-30. https://doi.org/10.5465/ame.2005.15841948
Nutt, P.C. (1998) Surprising But True: Half the Decisions in Organizations Fail. Academy of Management Executive, 13, 75-90. https://doi.org/10.5465/ame.1999.2570556
Nutt, P.C. (2002) Why Decisions Fail. Berrett-Koehler, San Francisco.
Mann, D. (1976) Policy Decision-Making in Education. Teachers College Press, New York.
Daft, R.L. (1998) Organization Theory and Design. South-Western College Publishing, Cincinnati.
Daft, R.L. (1999) Leadership. The Dryden Press, Fort Worth.
Burke, L.A. and Miller, M.K. (1999) Taking the Mystery out of Intuitive Decision Making. Academy of Management Executive, 13, 91-98. https://doi.org/10.5465/ame.1999.2570557
Betsch, C. (2008) Chronic Preferences for Intuition and Deliberation in Decision Making: Lessons Learned about Intuition from an Individual Differences Approach. In: Plessner, H., Betsch, C. and Betsch, T., Eds., Intuition in Judgment and Decision Making, Lawrence Erlbaum, Mahwah, 231-248.
Salas, E. and Klein, G. (2001) Linking Expertise and Naturalistic Decision Making. Lawrence Erlbaum, Mahwah. https://doi.org/10.4324/9781410604200
Klein, G. (2001) Linking Expertise and Naturalistic Decision Making. Lawrence Erlbaum, Mahwah.
Keith, N. and Frese, M. (2008) Effectiveness of Error Management Training: A Meta-Analysis. Journal of Applied Psychology, 93, 59-69. https://doi.org/10.1037/0021-9010.93.1.59
Unicef (n.d.) Quantitative and Qualitative Methods: Compared and Mixed. https://www.unicef-irc.org/publications/pdf/iwp_2009_05.pdf
Anderson, D., Sweeney, D. and Williams, T. (1994) An Introduction to Management Science: Quantitative Approaches to Decision Making. South Western Publishing Co., Mason.
Jordan, K.E. (2014) Decision Making in Choosing Information System. Journal of Information and Knowledge Management Science, 44, 162-180. https://doi.org/10.1108/VINE-04-2013-0022
Dhawan, S. and Rathee, S. (2013) Big Data Analytics Using Hadoop Components like Pig and Hive. American International Journal of Research in Science, Technology, Engineering & Mathematics, 2, 88-93.
Stevens, J. (1992) Applied Multivariate Statistics for the Social Sciences. Erlbaum, Hillsdale.
Tarone, R.E. and Ware, J. (1977) On Distribution Free Tests for Equality of Survival Distributions. Biometrika, 64, 156-160. https://doi.org/10.1093/biomet/64.1.156
Openshaw, S. (1994) Two Exploratory Space-Time-Attribute Pattern Analysers Relevant to GIS. In: Fotheringham, A.S. and Rogerson, P., Eds., Spatial Analysis and GIS, Taylor and Francis, London, 83-104. https://doi.org/10.4324/9780203221563_chapter_Two
Openshaw, S. (1995) Developing Automated and Smart Spatial Pattern Exploration Tools for Geographical Systems Applications. The Statistician, 44, 3-16. https://doi.org/10.2307/2348611
Foxley, C. (1980) Determinants of Managerial Effectiveness. New Directions for Student Services, 1980, 1-9. https://doi.org/10.1002/ss.37119800903
Elgendy, N. and Elragal, A. (2014) Big Data Analytics: A Literature Review Paper. In: Advances in Data Mining: Applications and Theoretical Aspects, Springer International Publishing, Berlin, 214-227. https://doi.org/10.1007/978-3-319-08976-8_16
Chang, R.M., Kauffman, R.J. and Kwon, Y. (2014) Understanding the Paradigm Shift to Computational Social Science in the Presence of Big Data. Decision Support Systems, 63, 67-80. https://doi.org/10.1016/j.dss.2013.08.008
Oakland, S. and John, S. (2003) Statistical Process Control. Butterworth Heinemann, Oxford, 445.
Heywood, I., et al. (1995) Building an Exploratory Multi-Criteria Modelling Environment for Spatial Decision Support. In: Fisher, P., Ed., Innovations in GIS 2, Taylor and Francis, London, 127-136.
Parker, D.C., Manson, S.M., Janssen, M.A., Hoffmann, M. and Deadman, P. (2003) Multi-Agent Systems for the Simulation of Land-Use and Land-Cover Change: A Review. Annals of the Association of American Geographers, 93, 314-337. https://doi.org/10.1111/1467-8306.9302004
Agrawal, S., Subramanian, S.K. and Kapoor, S. (2010) Operations Research Contemporary Role in Managerial Decision Making. International Journal of Resource Review in Applied Science, 3, 200-208.