Qualitative forecasting methods

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Forecasting methods refer to all the methodologies, tools and techniques used to establish forecasts. They allow to anticipate future situations and to better prepare for them. Qualitative forecasting methods are based on assessments or estimates. They are the ideal techniques when you do not have historical data at your disposal.

There are different qualitative forecasting techniques available today.
We have :
Market analysis,
– the Delphi method,
– group surveys.

In general, these methods are used to establish forecasts on the future demands of products or services.

Two types of demand can thus be analyzed using these methods:
– independent demands: which are based on the level of production and the finished product
– Dependent demands. They depend on resources, raw materials, inventory levels, etc.