What are the key differences between qualitative and quantitative data collection?
In the realm of Business Intelligence (BI), data collection is the bedrock of analysis and decision-making. Understanding the differences between qualitative and quantitative data collection is essential. Qualitative data is descriptive and conceptual, often collected through interviews, focus groups, or observations. It provides insights into the 'why' and 'how' behind human behavior, helping businesses understand customer sentiments and experiences. Quantitative data, on the other hand, is numerical and can be measured and quantified. Surveys, financial records, and web analytics are common sources, providing hard numbers to support business strategies.