The use of low precision (e.g., 1-3 bits) analog-to-digital convenors (ADCs) in very large multiple-input multiple-output (MIMO) systems is a technique to reduce cost and power consumption. In this context, nevertheless, it has been shown that the training duration is required to be {\em very large} just to obtain an acceptable channel state information (CSI) at the receiver. A possible solution to the quantized MIMO systems is joint channel-and-data (JCD) estimation. This paper first develops an analytical framework for studying the quantized MIMO system using JCD estimation. In particular, we use the Bayes-optimal inference for the JCD estimation and realize this estimator utilizing a recent technique based on approximate message passing. Large-system analysis based on the replica method is then adopted to derive the asymptotic performances of the JCD estimator. Results from simulations confirm our theoretical findings and reveal that the JCD estimator can provide a significant gain over conventional pilot-only schemes in the quantized MIMO system.