Qualitative methods are the least common type of forecasting method for the long-term strategic planning process.

Question

Quizplus · Accepted Answer

Qualitative methods, such as expert opinions and scenario planning, are commonly used in long-term strategic planning due to the uncertain and complex nature of the future. Quantitative methods, such as trend analysis and regression modeling, are more commonly used in short-term forecasting.

Qualitative Methods Are the Least Common Type of Forecasting Method