Quantitative tools are better in data analysis and money. Qualitative could be a good tool if you don´t have data in the same topic.

Keep it simple. Sometimes there is a major industry (e.g., fishing, a dominant crop, etc.). Measure that industry activity carefully and take that to be highly correlated with GDP. At the same time, get a handle on the quantity of money. Finally, look for the relationship between the rate of change in activity and the rate of change in money. Also, consider focusing on inflation. See the following: Preprint Money, Inflation, and a Macro Model

For an objective analysis, may look into this method.

Article Monitoring Economic Development from Space: Using Nighttime ...

Monetary policy and quantitative tools are the best. In Mexico, the objective of monetary policy is to maintain price stability, that is, to control inflation. Its instrumentation is carried out by the central bank in the financial markets. The Bank of Mexico uses an inflation target scheme setting a goal.

The tool used by the Bank of Mexico, in order not to deviate from its inflation target, is the target interest rate, also known as the overnight interbank interest rate.

Best regards

Quantitative tools for monetary policy.

The Central Banks usually input and analyze data using qualitative methods.

In some cases, qualitative data are transmitted or transcribed to quatitative data for monetary policy implementations.

Regards

Quantitative and qualitative instruments are important in monetary policy to achieve the objectives.

The qualitative tools of monetary policy are Rationing of credit, Consumer Credit Regulation, Guidelines, Margin requirements, Moral Suasion.