When data available to a firm is too old to be useful, what type of forecasting technique should the firm consider?
A) Quantitative
B) Qualitative
C) Qualified
D) Quantified

Question

Quizplus · Accepted Answer

Qualitative forecasting techniques rely on subjective inputs such as expert opinions and market research. These techniques can be useful when historical data is not available or is too old to be useful. On the other hand, quantitative forecasting techniques rely on historical data and mathematical models, so they may not be effective when data is too old or unavailable. Therefore, the best choice in this scenario is to consider qualitative forecasting techniques.

When Data Available to a Firm Is Too Old to Be