Quantitative forecasting combines numerical data and statistics to better understand future events.

Question

Quizplus · Accepted Answer

Quantitative forecasting relies on numerical data and statistical analysis to generate predictions or estimates about future events. This approach is used in a variety of fields, from economics and finance to meteorology and marketing, and is often contrasted with qualitative forecasting, which is based on expert opinion and subjective judgments. By relying on quantitative data and statistical models, forecasters can often generate more precise and accurate predictions about future trends and outcomes, though there are also limitations and potential sources of error that need to be taken into account.

Quantitative Forecasting Combines Numerical Data and Statistics to Better Understand