Qualitative Data

Qualitative Data

Qualitative Data Jonathan Poland

Qualitative data refers to information that is expressed in a language such as English and cannot be easily quantified or measured. It is often contrasted with quantitative data, which can be represented numerically and is more easily processed by machines. While qualitative data may provide deeper insights and context, it is more difficult to analyze and requires advanced techniques such as artificial intelligence for natural language processing. Currently, most qualitative data is generated by humans, but it is possible that machines may eventually be able to express complex ideas with words as well.

The following are common examples of qualitative data.

  • Strategy – A company executive expresses a company’s strategy in words.
  • Designs – An architect describes a concept for a building to a client.
  • Communication – A stock analyst advises an investor on a private call.
  • Stories – A firm builds an extremely valuable brand by telling stories that people find compelling.
  • Comments & Feedback – A new game is released and people who try it post their feelings and ideas about it.
  • Guides – A guide describes how to write code in a particular programming language.
  • Knowledge- A physicist explains a new theory with a short analogy. The theory goes on to change our understanding of the universe and has countless applications for engineering and technology.
Risk Impact Jonathan Poland

Risk Impact

Risk impact refers to the potential consequences or losses that an organization or individual may incur as a result of…

Market Failure Jonathan Poland

Market Failure

Market failure is a situation in which the market does not produce optimal outcomes for society as a whole. It…

Unstructured Data Jonathan Poland

Unstructured Data

Unstructured data refers to information that is not organized in a specific, predefined way that is easily understood by computers.…

What is a Competitive Market? Jonathan Poland

What is a Competitive Market?

A competitive market is a type of market in which there are numerous buyers and sellers, and in which the…

What is the Iterative Process? Jonathan Poland

What is the Iterative Process?

An iterative process is a method of working through a problem or project by repeating a series of steps, each…

Opportunity Cost Jonathan Poland

Opportunity Cost

Opportunity cost is the value of the next best alternative that is given up as a result of making a…

Figure of Merit Jonathan Poland

Figure of Merit

A figure of merit (FOM) is a value used to evaluate the performance of a system or device. It is…

Sales Quota Jonathan Poland

Sales Quota

A sales quota is a target for the revenue or units sold that a sales department, team, or individual is…

What’s a GSA Contract? 150 150 Jonathan Poland

What’s a GSA Contract?

A GSA (General Services Administration) Contract, also known as a GSA Schedule or a Federal Supply Schedule, is a long-term,…

Learn More

Risk Tolerance Jonathan Poland

Risk Tolerance

A risk is the possibility of an adverse event occurring, while a trigger is the root cause of that event.…

Channel Structure Jonathan Poland

Channel Structure

Market penetration is the percentage of a target market that purchased a company’s product or service over a period of time.

Vertical Integration Jonathan Poland

Vertical Integration

Vertical integration is when a single company owns multiple levels or all of its supply chain.

Magical Thinking Jonathan Poland

Magical Thinking

Introduction to Magical Thinking Magical thinking is a type of irrational belief that involves attributing causality to events that are…

Management Approaches Jonathan Poland

Management Approaches

Management approaches are methods or techniques that are used to direct and control an organization. These approaches may be adopted…

Brand Authenticity Jonathan Poland

Brand Authenticity

Brand authenticity is the degree to which a brand accurately represents itself and its values to consumers. It is the…

Dismissing Employees Jonathan Poland

Dismissing Employees

Letting go (aka firing) employees is a difficult and sensitive task, and it’s important to handle it with care and…

Revenue Risk Jonathan Poland

Revenue Risk

Revenue risk refers to any event or circumstance that could potentially negatively affect your future revenue. This could include external…

Fair Competition Jonathan Poland

Fair Competition

Fair competition refers to competition between businesses that is open and equitable, allowing all participants to compete on an equal…