When there is not a lot of currently relevant data available it is generally best to use:
A) Qualitative forecasting
B) Time series forecasting
C) Naive forecasting
D) Simple moving average forecasting

Question

Quizplus · Accepted Answer

When there is not much currently relevant data available, qualitative forecasting methods that rely on expert opinions, judgment, and subjective analysis are often more appropriate than quantitative methods. Qualitative techniques can be useful in situations where historical data is limited or non-existent, such as when introducing new products or services or entering new markets. In such cases, decision-makers may rely on a range of inputs, including customer feedback, competitor analysis, and expert opinions, to make informed predictions about the future.

When There Is Not a Lot of Currently Relevant Data