A Study on the Significance of Quantitative Techniques in Business and Finance

In order to work effectively in an organization, managers need to use quantitative techniques positively and consistently. A systematic approach to decision making is complex nowadays. Quantitative techniques come to our rescue to assist in this kind of complexity in business decision making. Quantitative Techniques refer to the methods used to quantify the variables in any discipline. It means application of subjects like mathematics and statistics, econometrics and operations research to understand, formulate and solve the problems. Quantitative techniques are powerful tools through which we solve uncertainties in business and enhance efficiency in business decision making. Managers, Economists and Finance professionals make decisions with the help of these techniques to evaluate planning factors and when these arise, then provide meaningful solutions to particular business problems. The objective of this paper is to discuss the various quantitative techniques and methods used in managerial decisions.