A quantitative analyst is a specialist in the mathematical techniques of finance.
Uses of quantitative analysis include:
- risk management
- arbitrage — particularly in the case of hedge funds and proprietary trading, both of which often use complex arbitrage strategies
- running tracker funds — to construct a portfolio that keeps transaction costs down, while having a known high probability of remaining close enough to the index
Slang terms for quantitative analysts include "quants" and "rocket scientists."