Business Management. Contributions of Quantitative Techniques to Banking Industry (Essay Sample)

The contribution of Quantitative Techniques in Banking Industry
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Contributions of Quantitative Techniques to Banking Industry
Introduction
Quantitative analysis is an approach that seeks to understand behaviors through the use of statistical and mathematical modeling, measurement and research. It aims at representing a given reality in terms of numerical values. Various factors make it necessary to employ quantitative techniques. Notably, it makes it possible to measure performance and predict real-world events. Quantitative techniques are applied in a wide range of industries. A notable industry where quantitative techniques are highly applicable is the banking and finance industry.
Banking and Finance Industry
Banks and financial institutions play an important role in the economy. They have an intermediation function since they keep public savings and also finance the improvement of business and trade. Quantitative techniques play an important role in banking and finance and finance industry. A notable organization in the banking and finance industry that relies on quantitative techniques in undertaking major decisions is the Bank of America.