Quantitative analysis is important when it comes to making decisions since it entails the use of scientific methods to inform the decision-making process. The method is critical for any organization because it helps the data scientists to put a value to different pieces of information such as the problems facing an organization. One of the ways this can be made possible is through using data. Some organizations rely on consumer data to get a competitive advantage. Hagiu & Wright (2020) argues that many executives and investors rely on consumer-data capabilities to gain an unbeatable competitive edge. When a business has more customers, there is a higher likelihood that they will gather more data, which can be used in making decisions. For instance, an organization can examine data on consumer trends especially when they introduce new products in the market. With this kind of information, they will use quantitative analysis, which would inform the type of decision that will be taken by the organization.

Besides that, companies can use quantitative analysis to gather customer information and use it to make better products while at the same time improving on the services offered (Shafti, 2019). Therefore, this strategy is key towards the success of the organization since the information that would be gathered will be used to make better and informed decisions in the future. They can also use quantitative analysis to develop surveys to collect data and information, which would form the basis of making better and informed decisions in future. Generally, the technique is important because it incorporates individuals from different segments and since the surveys give out feedback, then it can be used by an organization to improve results and decision-making process.

Question: After reading the opinion above, conversely, how can data fail a business?