A qualitative forecasting technique that is useful for identifying what consumers like and dislike about a product is Market research.
What methods are employed in a qualitative forecast?
The expert opinion approach, the Delphi method, and the market survey approach are the three main methods utilized in qualitative forecasting.
What are qualitative forecasting models, and when are they useful?
Qualitative forecasting techniques are based on the judgment and opinion of experts and consumers and are only appropriate in the absence of historical data.
Market research, Delphi method, and informed opinion and judgment are a few examples of qualitative forecasting techniques.
If one variable goes down, then the other goes up, and vice versa. Think of it like a see-saw. We'll have x on one side pushing down to make y go up. An example of this would be y = 1/x which graphs out a hyperbola.
