Question

What is the difference between qualitative and quantitative forecasting

Answer 1

Quantitative Forecasting Techniques ↓↓

Quantitative forecasts often use historical data, such as previous sales and revenue figures, production and financial reports and website traffic statistics. Looking at seasonal sales data,

Qualitative Forecasting Techniques↓↓

Qualitative forecasting techniques come from the experience and instincts of seasoned business experts. These forecasting techniques aren’t just guesses; they include interpretation of data combined with the professional expertise you've developed over time on the job.