Answer to Question #259012 in Math for Zack

Question

A prospective business student desires to specialize in Marketing. He is told that he would also have to study business mathematics and quantitative techniques. He does not like mathematics and figures and wonders why he has to study these subjects yet his career aspiration is to be a marketing manager. Advise him.

Answer 1

Business mathematics are mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.

Quantitative techniques emphasize objective measurements and the statistical, mathematical, or numerical analysis of data collected through polls, questionnaires, and surveys, or by manipulating pre-existing statistical data using computational techniques. Quantitative research focuses on gathering numerical data and generalizing it across groups of people or to explain a particular phenomenon.