quantitative decision-making

Quantitative decision-making involves using numerical data and statistical methods to guide choices. Instead of relying solely on intuition or experience, it analyzes measurable information—like costs, profits, risks, and probabilities—to compare options objectively. This approach helps decision-makers evaluate options more accurately, forecast potential outcomes, and select the choice that best aligns with their goals. It’s common in fields like business, finance, and engineering, where data-driven insights lead to more reliable and informed decisions.