What are the different roles that qualitative and quantitative approaches play in managerial decision making?

Good Day!!!

Wonderful question & equally wonderful conribution by Mr. Zafar........

In my opinion, those managers, who dont have the hands-on experience of doing a managerial task usually opt for QUANTITATIVE APPROACH.

To opt for the QUALITATIVE APPROACH, they must have an intuitive feel for how decisions will play out given the nature of their respective company, which can only come from direct, HANDS-ON experience.

GOOD QUESTION KRISHNA,,,,,,,,,,,, MOSTLY THE OPERATIONAL TEAM FOCUS ON THE DESIGN OF QUANTITATIVE OBJECTIVES,,,, MAKE PLANS , STRATEGIES TO GET THE DESIRED NUMBERS ,,, TARGETS , BUDGETS ,, ACHIEVEMENTS ......... EVERY WHERE THERE IS THE NOISE OF NUMBERS ,,, BUT SOMETIME WE HEAR THE SOFT SOUND OF QUALITATIVE OBJECTIVES FROM SOME CRAZY MAN,,,, PRACTICALLY I HAVE NEVER SEEN ANY EMPLOYER TO BE WORRIED ABOUT QUALITATIVE OBJECTIVES .............. ??? WHY .... AM NOT AN EMPLOYER SIR.... GOOD DAY

Very intelligent question Sir. 

We need to diiferentiate the qualitative and quantitative approaches. Quantitative approach based on mathematical structure therefore it is measureable, however qualitative approach based on experiential knowledge in simple words descision making process can be taken as qualitative approach. 

So if we have a problem and the very step taken by the manager is translate the problem into mathematical structure, his approach is quantitaive and this approach is best for measurable objectives and if the first step is taken by the manager is; make the decision accordingly to his experience is qualitative approach. 

Very good question in fact.

Agreed with Mr.:Zafar,s answer as he did it  in a very excellent description

Qualitative decision making works best for the solving of immeasurable problems, as decisions are made intuitively using things such as experience, feel, and hunch. Intuitive judgements rely on a big reservoir of memories and experiences that enable experienced people (managers) to make quick connection faster than others comparing current situations with previous ones, using non-numerical information such as social or emotional intelligence. Such approach works best only when combined with experience, expertise and relatively little accountability, which is mostly the case in relatively small organisations.   

Quantitative decision making works better for solving measurable problems, like the allocation of budget to the right department compared to others, based on expenditure vs ROI, for example. As the name implies, the quantitative approach relies heavily on mathematical "quantity", like formulas, figures and statistics. It is the safer approach for less experienced decision-makers who need to account for or document their actions using presentable data, which is mostly the case in big organisations.

Briefly I would like to say to drive out the thin line between bottom profits and loss making, rest I agree to all