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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1433 |
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It is in these situations that modern methods of business forecasting can be especially useful. Modern forecasting methods are usually grouped into two main categories: qualitative methods, and quantitative methods. Qualitative analysis includes the intuitive and knowledge-based approach as discussed earlier...
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The decision maker reviews all of the information available, and then makes an estimated forecast. Quantitative techniques are used mostly when qualitative information is not available. In contrast, qualitative techniques are based on an analysis of data (Namvar, 2000, p.8).
Delphi Forecasting Method
Qualitative forecasting techniques are: executive committee, the Delphi method, and surveys of the sales force, surveys of customers, historical analogy, and market research...
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