Qualitative Techniques: A qualitative forecasting technique relies on indivi­dual or group judgment. Consumers’ behaviour is the most unpredictable one because it is motivated and influenced by a multiplicity of forces. Role of Forecasting 3. 8 0 obj Meaning of Forecasting 2. The time series type of forecasting methods, such as exponential smoothing, moving average and trend analysis, employ historical data to estimate future outcomes. If actual demand turned out to be 115 rather The survey method is generally for short-term forecasting, whereas statistical methods are used to forecast demand in the long run. Download full-text PDF Download full-text PDF Read full-text. A quantitative approach He has brought his passion for improving sales performance management with analytics to InsightSquared. 1 0 obj Forecasting Methods Subjective Approach (Qualitative in nature and usually based on the opinions of people) Objective Approach (Quantitative / Mathematical formulations - statistical forecasting… (The basic steps in a forecasting task) Title: ms4102ch1.PDF Sales Forecasting Methods 101 // 2 Zorian Rotenberg Zorian is a sales and marketing veteran with a proven track record of success in the high-tech world. 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