Question

Explain the differences between qualitative and quantitative forecasting techniques and when each one is appropriate to use in forecasting.

Answer 1

Qualitative forecasting is based on the information that cannot be measured while quantitative forecasting relies on historical data.

What is forecasting?

It should be noted that forecasting uses historical data to predict future trends.

In this case, qualitative forecasting is based on the information that cannot be measured while quantitative forecasting relies on historical data.

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