quantitative modeling
nounUK /ˈkwɒn.tɪ.tə.tɪv ˈmɒd.əl.ɪŋ/
US /ˈkwɑːn.tə.teɪ.tɪv ˈmɑː.dəl.ɪŋ/
Using numbers and math to make a simple pretend version of something real so you can understand it better.
The scientists used quantitative modeling to predict how fast the ice would melt.
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OTHER MEANINGS
2. In finance, using math and data to estimate risks and prices.
The bank relied on quantitative modeling to assess its loan risks.
3. In science, building computer versions of experiments to test ideas.
Quantitative modeling helped them simulate the spread of the disease.
4. In business, using numbers to plan and predict outcomes.
The company used quantitative modeling to forecast next year's sales.