Applications of qualitative sales forecasting methods

Related BrainMass Solutions

• Two Forecasting Approaches

  The two approached to forecasting are qualitative methods and quantitative methods. Quantitative methods are most frequently used when existing data is available surrounding sales of a product or service and that data can be measured.

• Business forecasting models

  Sales of bathing suits in summer can change if the weather is too rainy (lower sales) or a larger number of sunny days occur (rising sales). Qualitative models-these models use judgement and expertise of individuals.

• Economic polls and forecasting

  Causal methods attempt to define relationships between the variable of interest and the value of related explanatory variables. The field of forecasting also includes qualitative forecasting methods.

• Describe the impact of capacity planning

  The main qualitative forecasting techniques are: executive committee, the Delphi method, surveys of the sales force, surveys of customers, historical analogy, and market research.

• Qualitative method, regression method, multiple equation method

  The qualitative, regression, multiple equation and moving average methods as used in forecasting are used in statistical modeling to show relationships between data, with the type of data needed for the above forecasting method being sales, costs, etc

• Forecasting Methodologies

  Forecasting sales in the supply chain: Consumer analytics in the big data era. International Journal of Forecasting, 35(1), 170-180. This posting describes forecasting methods and how these can give a company strategic advantage.

• Recommending a Forecasting Method Type for a New Company

  These methods are divided into the qualitative and quantitative method. Qualitative methods are based on survey techniques, while quantitative methods are calculated through using statistical or mathematical technique.

• Operations Management: Strategic Role of Forecasting

  This will create an excellent management guidance that will ensure that the operations of the company are well ordered. There are diverse methods of quantifying the forecasts; qualitative and quantitative methods.

• Different Types of Forecasting Techniques

  Qualitative models are known to incorporate different types of methods while conducting forecasting for instance, Delphi method, Jury of executive opinion, sales force composite, and consumer market survey (Forecasting, n.d).