Abstract
This Paper examines and compares various forecasting techniques used for qualitative and quantitative business forecasting and their use in Firstlogic Inc., to forecast the demand under conditions of uncertainty. Time series and Delphi forecasting methods are considered for this research to evaluate their ability to make effective decisions regarding the future.
Business Forecasting
Business forecasting is the process of studying historical performance for the purpose of using the knowledge gained to project future business conditions so that decisions can be made today that will aid in the achievement of established goals. Forecasting plays a crucial role in today's uncertain global marketplace. Forecasting is traditionally either qualitative or quantitative, with each offering specific advantages and disadvantages.
Qualitative and Quantitative Forecasting Techniques
Forecasting can be classified into qualitative and quantitative. Qualitative techniques are......
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Approximate Word Count: 1456
Approximate Pages: 6 (260 words per double-spaced page) |