Week 4 Discussion: Qualitative vs. Quantitative Research
Look through your textbook and examine the various methodological approaches described for different study designs.
Do you see more qualitative or quantitative approaches used?
Why do you think some psychologists are more comfortable with conducting studies using quantitative data instead of qualitative data?
What would be an advantage to using qualitative data along with quantitative data?
Using the South University Online Library find two peer-reviewed articles (one that has used a quantitative approach and one that has used a qualitative approach.) Summarize these two articles.
What methods of data collection were used in these articles?
What makes these methods quantitative or qualitative?
Week 5 Discussion Qualitative Vs. Quantitative Research
Researchers frequently struggle to decide between quantitative and qualitative research methodologies. The two terms are frequently confused and thought to be interchangeable.
Quantitative research is preferable over qualitative research because quantitative research is more accurate, unbiased, efficient, focused, and accepted than qualitative research. Meanwhile, qualitative research is employed when there is no predetermined course of action for the researcher. It is employed to formulate a solution or to define the issue. Methods used in qualitative and quantitative research can have drawbacks. However, it is crucial to remember that quantitative research methods deal with a wider population and measurable data and will, therefore, result in a more dependable outcome than qualitative research.
Some psychologists are more comfortable with conducting studies using quantitative data instead of qualitative data because quantitative data is very dependable and highly scientific. After all, it is objective which means, numbers have a universal application that can be understood by all parties without the need for human interpretation. The ability to compare quantitative data favorably is another advantage for psychologists. Statistics can be created from quantitative data, which enables in-depth analysis of enormous groups and the detection of trends. Quantitative data is also easy to understand. Although descriptions in words may be quite lengthy or time-consuming, numbers can summarise material quickly and efficiently.
Combining qualitative and quantitative data can enhance an evaluation by ensuring that the weaknesses of one form of data are balanced by the advantages of the other. This will guarantee that understanding is enhanced through the integration of many modes of knowledge. The majority of evaluations will gather both quantitative (numbers) and qualitative (text, photos) data but it is vital to determine how they will be merged in advance.
Article 1 which used a quantitative approach is “Risk Analysis, Practice, and Considerations in Capital Budgeting: Evidence from the Field for the Bio-based Industry”. This study examines how organizations in the bio-based industry perform risk analysis within the capital investment decision-making process. Risk assessment is most commonly performed in the later stages of a project (de Assis et al. 2020, p.33). Financial, market, and technology are the main sources of uncertainties considered when performing a risk assessment. Within the bio-based industry, risk analysis is used for investment assessment by over 95% of those who responded to the survey. The main sources of risk taken into account across various organization sizes and management levels are price and cost-related concerns (financial hazards). Industry (quantity) and sales, competition, and innovation are other frequent sources of risks taken into account. Depending on the decision maker’s position, different main risks are seen differently. It is not well known-how to use risk assessment in the early stages of a project. Less than half of respondents used risk analysis in earlier project phases, but more than 80% of respondents completed risk assessment in later project stages.
Article 2 which has used a qualitative approach is “The effects of illicit financial flows on oil and gas revenue generation in Nigeria”. The objective of this paper is to estimate how much illicit flows have an impact on Nigeria’s oil and gas revenue creation, particularly the activities related to oil theft. In this study, peer-reviewed papers and studies that explored crude oil theft in Nigeria were chosen using a qualitative approach followed by a systematic quantitative estimation (Umar & Mohammed, 2020, p.38). By utilizing actual data and studies from respected organizations, the study question of the effects of oil theft on income generation in Nigeria’s oil and gas sector has been evaluated and studied. According to the qualitative study of the sources, Nigeria loses an estimated US$6.27 billion and bpd278,000 every year. 10% of the yearly illegal flows from Africa are caused by oil theft activities in Nigeria alone.
The following methods of data collection were used in Article 1: three hypotheses were defined, questionnaire preparations, sample collection, and surveys. These methods are quantitative because quantitative research utilizes figures, reasoning, and an independent perspective. It concentrates on numerical and static data as well as thorough, convergent thinking as opposed to divergent reasoning.
The following methods of data collection were used in Article 2: a literature review (which contains a conceptual framework, oil, and gas sector revenue), a theoretical framework (which contains the traditional theory of the multinational corporation or capital flow theory, queer ladder theory), empirical review (which contains literature gap). These methods are qualitative because qualitative information is descriptive and communicated verbally as compared to numerically. It helps in Framing thoughts, actions, and behavior in their proper context.
de Assis, C. A., Suarez, A., Prestemon, J. P., Stonebraker, J., Carrillo, C., Dasmohapatra, S., … & Gonzalez, R. (2020). Risk analysis, practice, and considerations in capital budgeting: Evidence from the field for the bio-based industry. BioResources, 16(1), 19-45.
Umar, B., & Mohammed, Z. (2020). The effects of illicit financial flows on oil and gas revenue generation in Nigeria. Journal of Money Laundering Control.