Quantitative Methods in Economics and Information Systems

Economics () is the social science that studies the production, distribution, and consumption of goods and services.

Information is any entity or form that provides the answer to a question of some kind or resolves uncertainty. It is thus related to data and knowledge, as data represents values attributed to parameters, and knowledge signifies understanding of real things or abstract concepts. As it regards data, the information's existence is not necessarily coupled to an observer (it exists beyond an event horizon, for example), while in the case of knowledge, the information requires a cognitive observer.

Quantitative information or data is based on quantities obtained using a quantifiable measurement process. In contrast, qualitative information records qualities that are descriptive, subjective or difficult to measure.