Launch
Celebration

Launch Alert!!

Introducing Pline by Grepsr: Simplified Data Extraction Tool

search-close-icon

Search here

Can't find what you are looking for?

Feel free to get in touch with us for more information about our products and services.

Qualitative and Quantitative Data Analysis Methods

Qualitative and Quantitative Data Analysis Methods

This is one piece of a three-part series that looks at the various methods, techniques, and essential steps to ensure superior data analysis.


The majority of leaders from high-performing businesses attribute their success to data analytics. According to a survey done by McKinsey & Company, respondents from these companies are three times more likely to pin their accomplishments on data analytics. 

That being said, although 1.145 trillion MB of data is created every day, stats show only 0.5% of it is analyzed to get results. This highlights a huge gap between companies that use data analytics to get ahead and those that don’t.

Grepsr has helped businesses bridge this gap, which in turn has given them an upper hand over their competitors. If you haven’t swiveled to data analytics yet, there is no better time to get started.

Data to make or break your business
Get high-priority web data for your business, when you want it.

In the last post, we talked about the ‘why’ of data analysis, this time we will delve into the ‘how’. 

Qualitative and quantitative data

The internet has enabled us to create large volumes of data at a staggering pace. Moreover, the way you analyze it depends on the type of data you are working with. We broadly classify data into two forms — qualitative and quantitative.

Qualitative and Quantitative Data

Methods to data analysis

With so much data being created every day, it becomes imperative to go beyond the traditional methods to analyze this huge chunk of invaluable information.  

Qualitative and quantitative data each have their own ways of being processed. 

  • Qualitative data analysis comes into play when the data you are trying to process has no bearing whatsoever with numbers, and cannot be tabulated — e.g. text, videos, images, etc.
  • Quantitative data analysis deals with structured datasets that have numbers in them. It runs algorithms on statistical data to deduce objective truths.

Learn the key differences between qualitative and quantitative research from our recent blog.

Quantitative data analysis

Quantitative data analysis is a more traditional form of analysis. As mentioned earlier, this process crunches numbers to get results.  

Since one of the major functions of this process is to run algorithms on statistical data to obtain the outcome, the methods used in quantitative data analytics range from basic calculations like mean, median, and mode to more advanced deductions such as correlations and regressions.

Some of the scopes of quantitative data analysis include: 

  • Project management
  • Marketing
  • Finance
  • Research and Development
  • Product planning

Qualitative data analysis

Qualitative data analysis is used when the data you are trying to process cannot be adjusted in rows and columns. It involves the identification, examination, and elucidation of themes and patterns in data (mostly textual) to bolster the decision-making process.

Unlike quantitative analysis, qualitative data analysis is subjective. This method of analysis allows us to move beyond the quantitative traits of data and explore new avenues to make informed decisions.

The following are some of the scopes of qualitative data analysis: 

  • Measuring customer satisfaction
  • Monitoring competition
  • Analyzing customer behavior
  • Evaluating market trends

Learn more about qualitative data analysis in detail:

Differences between qualitative and quantitative data analysis

Qualitative and Quantitative Data

A veritable combination: qualitative and quantitative data analysis

Quantitative and qualitative data analysis when used together can help you generate deeper insights. More often than not, quantitative and qualitative data can be collected from the same data unit as you can see below.

Qualitative and Quantitative Data

To gain richer insights you can even pair these two methods in different domains. Best use cases include Google analytics & user interviews, social media & community engagement, marketing & surveys, and so on.

Bear in mind that your way of analysis completely depends on your requirements. Sometimes, quantitative analysis will be more than enough, and other times, only qualitative will do just fine. When you want to dig deep into the data at hand, it is advisable that you go with both qualitative and quantitative data analysis.

If you want to learn more about the different techniques to perform qualitative and quantitative data analysis, click here. To add to that, if you ever need to analyze large amounts of data or need expert help, you can hire the top freelance data analysts to augment your development teams for data analysis.

About Grepsr

Grepsr understands that your business has very specific needs when it comes to data. Be it data in the form of hard numbers or just images, we specialize in extracting data from far-flung areas of the internet.

Let us know about the data you need for effective analysis, and we will get back to you in a jiffy! 

Web data made accessible. At scale.
Tell us what you need. Let us ease your data sourcing pains!


BLOG

A collection of articles, announcements and updates from Grepsr

Why-Data-Strategy-Thumbnail

Data-Driven Decision Making: Why a Data Strategy is Business 101

Are you drowning in, or swimming through your data? Your business is likely flooded with data: customer intel, operational data, and market insights, pouring in like a torrent. And most enterprises, George Kobakhidze of ZL Tech says, “…are not drowning in data because of its depths, they are drowning because they don’t know how to […]

3 Pillars of a Powerful Data Strategy + Real-Life Examples (2024)

By the time you’re done reading this post, human activity on the web and across devices will generate 27.3 million terabytes of data. According to Bernard Marr, author of Data Strategy, in the 21st century, “every business is a data business.” What information do you want to collect? Where are you going to store the […]

IMDb-Data-Thumbnail

IMDb Data Scraping: Turn Raw Entertainment into Actionable Insights

What if you could predict the next sleeper hit, build your own personalized recommendation engine, and forecast trending travel destinations? This isn’t science fiction. This is the power of IMDb data scraping.  IMDb is perhaps the most authoritative voice in movie and TV content for good reason — with 200+ million unique monthly visitors and […]

Benefits of Proactive Analytics

What is Proactive Analytics? How Netflix, Spotify, and Walmart Make Billions (2024)

Netflix, Spotify, Walmart, and other giants haven’t bet on their billion-dollar fortunes by shooting in the dark.  These companies’ proactive analytics allow them to curate hyper-targeted services that offer a core feature to their customers: personalization. The question is — are you still relying only on historical data to drive your business?  We’re living in […]

web-scraping-services-for qualitative-data-collection

Harness The Power of Web Scraping for Qualitative Data Extraction

With the rise in Global Big Data analytics, the market’s annual revenue is estimated to reach $68.09 billion by 2025. Like the vast and deep ocean, Big Data encompasses huge volumes of diverse datasets that gradually mount with time. It refers to the enormous datasets that are far too complex to be handled by traditional […]

what-is-quantitative-data

Quantitative Data: Definition, Types, Collection & Analysis

Data is ubiquitous and plays a vital role in helping us understand the world we live in. Quantitative data, in particular, helps us make sense of our daily experiences.  Whether it’s the time we wake up in the morning to get to work, the distance we travel to get back home, the speed of our […]

data analysis guide

Data Analysis: Five Steps to Superior Data

This is one piece of a three-part series that looks at the various data analysis methods, techniques, and essential steps to ensure its superiority. According to Wikipedia, data analysis is a process within data science of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful insights, informing conclusions, and supporting decision-making. Data […]

Make Data Make Sense: Most-Used Techniques in Data Analysis

This is one piece of a three-part series that looks at the various methods, techniques, and essential steps to superior data analysis.

data analysis

Business Data Analytics — Why Enterprises Need It

Objectivity vs subjectivity The stories we hear as children have a way of mirroring the realities of everyday existence, unlike many things we experience as adults. An old folk tale from India is one of those stories. It goes something like this: A group of blind men goes to an elephant to find out its […]

Why Data Visualization Matters to Your Business

There are several reasons why we believe that visual representation of data is becoming an integral part of Big Data analytics or any other kind of data-driven analytics, for that matter

web scraping with python

Track Changes in Your CSV Data Using Python and Pandas

So you’ve set up your online shop with your vendors’ data obtained via Grepsr’s extension, and you’re receiving their inventory listings as a CSV file regularly. Now you need to periodically monitor the data for changes on the vendors’ side — new additions, removals, price changes, etc. While your website automatically updates all this information when you […]

data mining during covid

Role of Data Mining During the COVID-19 Outbreak

How web scraping and data mining can help predict, track and contain current and future disease outbreaks

Data Analytics for Better Business Intelligence

Advanced information technology has brought a massive paradigm shift in every aspect of human life We spend more and more of our working hours on the digital screens, either generating or aggregating digital data. Internet, what would have seemed something unimaginable only a few decades ago, has become an essential part of our daily businesses. […]

Location Analytics: ‘Where’ is the Knowledge of Data

Digital Technology and Rediscovery of Geography A substantial amount of data that Grepsr processes and provides to its business partners worldwide contains location-specific information. According to IDC, an American data research firm, 80% of data collected by organizations has location element, and according to ABI Research, location analytics market will rise up to $9 billion by […]

Data Mining: How Can Businesses Capitalize on Big Data?

In the recent years, data mining has become a prickly issue. The big controversies and clamors it has gathered in the political and business arenas suggest its importance in our time. No wonder, it is used as a household name in the business world. Data mining, in fact, is an inevitable consequence of all the technological innovations […]

arrow-up-icon