Determine the qualitative forecasting techniques

determine the qualitative forecasting techniques

Answer the following discussions based on the Katrina’s Candies scenario:

1. From the scenario for Katrina’s Candies, assuming the absence of quantitative data, determine the qualitative forecasting techniques that could be used within this scenario.

2. Now, assume you have acquired some time series data that would enable you to make short, medium, and long term forecasts. Ascertain the quantitative technique that will provide you with the most accurate forecast. Provide a rationale for your responses.

 

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In the absence of quantitative data, there exists several qualitative forecast methods that are most effective to use. These methods include the jury of executive opinion that entails taking the opinions of experts. These opinions can be obtained at an individual level by interrogating the involved experts on a personal basis. The involved experts can also have a brainstorming section whereby they generate new viable ideas. The……………………………..

APA

604 words

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