Role of Quantitative Techniques in Management

I am a visiting faculty in a management institute where I do teach Quantitative Techniques to students who are enrolled for MBA programmes. On last sunday, When I was teaching them, one students asked me about the role of Quantitative Techniques in Management. I have explained them why QT is important in management syallbus.

Quantitative approach to management give a clear cut picture to management what is going on , what was the past trend and what can be the future in quantitaive terms. QT approach give so many statistical tools to help management in decision making. Matices, Measure of central tendency, Probability, Transportation and assignment problem, Corelation and regression are some of the tools which helps a lot in decision making.

So, if you want to sharpen your management skills , you have to learn the quantitative methods.