A qualitative forecasting method that employs structured questionnaires presented to potential customers soliciting opinions about potential products to assess likely demand is build-up forecasting.
Qualitative forecasting is an analysis methodology that uses expert judgment, rather than numerical analysis. This type of forecasting depends upon the knowledge of highly experienced employees and advisors to provide insights into future outcomes.
Qualitative forecasting is founded on information that can't be measured. It's especially crucial when a company's just starting out, since there's a lack of past (historical) data. Quantitative forecasting depends on historical data that can be measured and controlled.
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