Qualitative Vs Quantitative Data - The Need For Both

October 2016

 

Graphs With PeopleWE BUILD up in-depth market research insights using a combination of qualitative and quantitative data. It’s important to use both methodologies, as the information you gain through the qualitative studies helps to verify the quantitative data. But for those new to market research, the similarity in these names can be confusing.

Put simply, quantitative research involves gathering extensive data from the relevant sample size of the market sector or sub-sector that we’re focusing on. Quantitative, as the name suggests, is about surveying your market to gain a large quantity of information which can be processed numerically, then data-modelled enabling you to identify trends, preferences and attitudes.

The qualitative research backs this up by focusing on high quality descriptive data, which typically requires more complex analysis than the ‘quant data’. At FI Foresight we utilise face to face in-depth interviewing by senior researchers across the country.

Both types of data then come together to be modelled and interpreted, which is how we are able to provide accurate forecasting for the foodservice market, as well as delivering market impact reports and a longer term market outlook.