Within the economy quantitative variables are analyzes that use statistical and mathematical techniques, in order to explain, or in such If predicting, different economic variables that arise, having a basis to support certain theories.
They use econometrics as their main work tool, and it is used due to the existence of a need for measure, assess or evaluate the economic reality of a region, country or society from a much more important point of view objective.
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In this article you will find:
What are quantitative variables?
Quantitative variables are those that have the ability to adopt numerical values, any type of figure, providing a greater understanding of the results of the statistics, since they give a value quite exactly. Within the quantitative variables, different types can be found, which are determined depending on the precision of the instrument used to measure it.
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Characteristics of the quantitative variables
These types of variables have a series of very interesting characteristics, such as that they are generally used to carry out surveys or during interviews, that all of their Values are always expressed numerically or that make use of differential, integral and bar diagrams to be able to show the frequencies and relativity of the figures.
However, there are also a couple of particular categories regarding their functions that are important to know.
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Explanatory function
They serve to explain specific characteristics within a study group, this means that, if studies are carried out in a company, the variable will be the tool that helps determine the average age among the people within it, or the average height of each group labor.
In other words, they help to represent a numerical value characteristic of a specific individual or group that is being analyzed.
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Analysis function
As these are essential tools for data analysis, which is obtained mainly by statistical research or due to an algebraic problem, the value quantitative that this expresses will give the final result of existence of a particular product, and to a person or a general value, but this must always be within a framework of investigation.
In this aspect it differs from qualitative values because it does not make any kind of reference to names, neither information is provided such as identity data within these figures, they are only used in a field numeric.
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Classification of quantitative variables
These can be classified in different ways, among them are the following:
Category
They are those that contain a finite number of categories or groups, at the same time they do not have an order where it is applied Logically, categorical predictors may include payment methods, sex / gender, or different types of materials.
Discreet
They are those that have a number of book values, which are between any two values. Among them can be counted the complaints of customers who come to the same establishment or the faults and defects of something in particular.
Keep going
These are considered to be variables that have an infinite number of values, which are found between two values without any specification, they are at all times of numerical origin. An example would be the length of an object or anything in general, a specific date and time when a payment is received.
Examples of quantitative variables
Most of the investigations that are carried out in the world have this type of variables to be carried out, since they are those that allow to determine certain characteristics in a specific way everything that is being investigated.
Questionnaires
This is one of the most common methods within companies around the world, these consist of creating questionnaires giving each answer a different numerical value, the same are sent by email or other digital means to a large number of customers, and the responses obtained are collected in turn to create a database of data.
Correlational
They are investigative methods where the impact of a particular entity on another similar to it is determined. Many times companies perform them to determine what is the relationship between internal departments of themselves. This helps determine which department is working most efficiently, and what changes need to be made to the others.
Experimental
They are usually based on theoretical concepts in their entirety, they are usually scientific investigations that fulfill a single purpose, which is to test said theory.
The analysis of quantitative variables can be applied in different sectors of the economy, a clear example of this is the companies who want to quantify the satisfaction of their customers with the products that they offer. They can be used in different ways, but always with the same objective, even if they are studied from different sources.
