Qualitative forecasting methods are most appropriate when
A) there is good historical data available.
B) there is little historical data available.
C) experts do not have critical market intelligence.
D) forecasting demand into the near future.
E) trying to achieve a high level of detail.

Question

Quizplus · Accepted Answer

Qualitative forecasting methods rely on subjective opinions and judgments, rather than historical data or statistical models. Therefore, they are most appropriate when there is little historical data available. In such cases, expert opinions and market intelligence can provide valuable insights for developing accurate forecasts.

Qualitative Forecasting Methods Are Most Appropriate When