Whether you use traditional methods of research, or use the modern tools?
I use quantitative methods/econometrics almost always; they seem effective for what we are attempting to do.
I use modern methods due to statistical software like STATA, gretl etc. which help to give appropriate result.
If you insert some graphics or colour diagrams in the text, you paper becomes more 'visual', attractive and interesting. You can also 'just describe' the same results verbally, but the effect will be less impressive.... Using statistical methods enables you to make graphics, diagrams, interesting plots and other visual demonstrations of the results. For example, you can compare data distribution, do correlation matrices to analyse how the data depend on each other. Data analysis is very important in research, no matter what is your topic of domain.
A paper with only words is not attractive for the eyes of the reader. I would suggest using python, gretl or/and R to plot statistical graphs. High quality graphs look very aesthetically and beautiful. Besides, the reader gets more information just by quick look at the picture rather then reading long descriptive statement interspersed by many words and numbers.
Econometric = Quantitative = Mathematical modeling
As such, it is "effective" in all cases. Whether the result is valid, i.e. accurate, is different issue.
In my research I always use quantitative methods, of course, and I make an appropriate choice depending on the purpose of the research and the data I have available.
Using quantitative method is the need of the hour. This approach is used as confirmatory test
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