Managing Information – Qualitative Vs Quantitative Information

1. FdA Business and Management Introduction to Management Managing Information – Qualitative Vs QuantitativeInformation

2. Learning Outcomes At the end of this session learners will be able to: • State the nature of Qualitative & Quantitative information • Define the term ‘Qualitative information’ • Define the term ‘Quantitative information’ • Explain how to use simple statistical methods • Discuss the uses for qualitative & quantitative information

3. ‘Six Management Skills’ • Leading People • Managing Change • Meeting Customer Needs • Managing Information and Knowledge • Managing Activities and Resources • Managing Yourself

4. What type of information does the following describe: • “is descriptive and based on characteristics or perceptions, such as relative desirability, rather than quantities” Qualitative • concentrates on statistics and other numerical data Quantitative

5. Definition: “is descriptive and based on characteristics or perceptions, such as relative desirability, rather than quantities” highered.mcgraw-hill.com/sites/0072830085/student_view0/chapter1/glossary.html 2010 What is Qualitative Information?

6. Definition concentrates on statistics and other numerical data CIM 2010 What is Quantitative Information?

7. How to Differentiate

8. There are two different question types – what are they?

9. Question Types • There are 2 basic question types:

10. Question Types • There are 2 basic question types: • OPEN – Any answer can be given • Qualitative in nature • CLOSED – Limited answers are available • Quantitative in nature

11. Consider the Following Questions • 1, What do you think is the most important skill of management? • 2, Which of the following do you think is the most important skill of management? • Leading People • Managing Change • Meeting Customer Needs • Managing Information and Knowledge • Managing Activities and Resources • Managing Yourself

12. Your Answers1. What do you think2. Which of the following • Question 1? – Qualitative • Any answer can be given • Descriptive in nature • Difficult to measure • Question 2? – Quantative • You are limited to 1 of 6 answers • Numeric in nature • Can easily be measured

13. What about this? 3, Put the following in the rank order that you think is the most important skill of management? (1 being most important) • Leading People • Managing Change • Meeting Customer Needs • Managing Information and Knowledge • Managing Activities and Resources • Managing Yourself

14. Levels of Information • Question 3 – Also Quantitative • But reveals much more information • Not just 1 answer • All can be measured • Quantitative questions can be formulated to obtain different amounts of information

15. Quantitative over Qualitative • Easy to do statistical analysis upon • Requires less interpretation • Provide a numerical basis for decision making – reduces decisions to looking at a monetary value placed on different choices, e.g. Forecasted sales figures for the next 3 years The cost of a series of redundancies against the longer term financial benefits to the firm of this process

16. Qualitative over Quantitative • But: Quantitative data provides only part of the story Other factors need to be taken into account, particularly the effects of decisions on stakeholder groups and their response to such decisions, e.g. “The changes to student fees might make economic sense but the reaction of the students might make it unworkable”

19. Types of Question • Dichtomonous • Multiple Choice • Rank Order • Semantic Differential Scale • Likert Scale • Numeric

20. Dichotomous Questions (Binary Question) • The simplest type of question • Only 2 possible answers • 1 has to be chosen • Often YES or NO • Or option 1 or 2 • Are you Male or Female?

21. Dichotomous Questions • Good for redirecting i.e. Question 1. Did you vote at the last election Yes/No (If No go to question 3) Question 2. Who did you vote for ? Question 3. Do you consider the monster raving looney party a valid option ?

22. Census • Dichotomous • H8 Is this household’s accommodation self-contained? • This means that all the rooms, including the kitchen, bathroom and toilet, are • behind a door that only this household can use •  Yes •  No

23. Multiple Choice Questions • Chose 1 or more from a number of possibilities • Example: What is the advantage of open-ended questions? • Can be asked slowly.  • Can be misinterpreted.  • Can be analysed slowly.  • Can explore new areas.

24. H11 What type of central heating does this accommodation have? •  No central heating •  Gas •  Electric (including storage heaters) •  Oil •  Solid fuel (for example, wood, coal) •  Other central heating

25. Which of these qualifications do you have? • 1 - 4 O levels / CSEs / GCSEs (any grades), Entry Level, Foundation Diploma • NVQ Level 1, Foundation GNVQ, Basic Skills • 5+ O levels (passes) / CSEs (grade 1) / GCSEs (grades A*- C), School Certificate, 1 A level / 2 - 3 AS levels / VCEs, Higher Diploma • NVQ Level 2, Intermediate GNVQ, City and Guilds Craft, BTEC First / General Diploma, RSA Diploma • Apprenticeship • 2+ A levels / VCEs, 4+ AS levels, Higher School Certificate, Progression / Advanced Diploma • NVQ Level 3, Advanced GNVQ, City and Guilds Advanced Craft, ONC, OND, BTEC National, RSA Advanced Diploma • Degree (for example BA, BSc), Higher degree (for example MA, PhD, PGCE) • NVQ Level 4 - 5, HNC, HND, RSA Higher Diploma, BTEC Higher Level • Professional qualifications (for example teaching, nursing, accountancy) • Other vocational / work-related qualifications • Foreign qualifications • No qualifications

26. Rank Order • Uses multiple options where you put them in order of importance/preference • Example:Please indicate, in rank order, your preferred chocolate bar, putting 1 next to your favourite through to 5 for your least favourite. • Double Decker • Crunchie • Wispa • Mars Bar • Creme Egg

27. Semantic Differential Scale Scale is inscribed between two bipolar words Respondent selects the point that most represents the direction and intensity of his / her feelings X _ _ _ _ _ _ _ _ _ _ X

28. Semantic Differential Scale • Scale is inscribed between two bipolar words and respondent selects the point that most represents the direction and intensity of his / her feelings • Example:The job I am doing is............. • Interesting :_____:_____:_____:_____:_____: Boring • Useful :_____:_____:_____:_____:_____: Useless • Easy :_____:_____:_____:_____:_____: Difficult

29. Likert Scale • Degree of agree or disagree with a statement • Example:Assessment by course-work is easier than assessment by examination What five statements do we normally see on this scale?

30. Likert Scale • Degree of agree or disagree with a statement • Example:Assessment by course-work is easier than assessment by examination Strongly Agree Neither agree Disagree  Strongly Agree or Disagree Disagree

31. Numeric • specifies a particular value (can include decimal places) • Example:How far (to the nearest kilometre) did you travel today to reach this supermarket?________km

32. Analysing Quantitative Data • Taking the simplest type of question, what would you do with your answers? • Are you male or female? • Answers • XX male • XX female • What now?

33. Simple Analysis • More or less males or females? • Converted to a percentage, can be used to compare • Is the ratio of males to females the same as other groups? • This may be useful planning information?

34. Using Your Information • Depending on the type of data you obtain from your questions, you may want to complete different analysis • Sales figures? • Population ages? • Popularity of products? • Opinions on a particular theme?

35. Looking at Specific Information • Sales figures • Sales forecasts • Market research • Cost estimates, • SWOT analysis, • Critical path analysis, • Investment appraisal techniques, • Decision trees.

36. Simple Statistics • Percentages • Max & Min • Range • Averages • Mean • Median • Mode

37. Outcomes met? The End