Answer to Question #142424 in Finance for faisal

Question #142424
What is qualitative forecast?
1
Expert's answer
2020-11-05T09:32:35-0500

Qualitative forecast is an estimation methodology that is based on expert judgement and opinions rather than on numerical analysis. Thus, it is dependent on the opinions and knowledge of highly qualified and experienced experts for the prediction of future outcomes.


Qualitative forecasts demands unbiased and logical judgements for quality and reliable estimates. They are best for long-term forecasts such as forecasts for profit margins and new business ventures. The estimates are common where there is absence of historical data for numerical analysis.


Qualitative forecasts include:

1. Excecutive opinions

2. Sales force polling

3. Delphi techniques

4. Consumer surveys


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
APPROVED BY CLIENTS