Which of the following is a qualitative forecasting technique?

Which of the following is a qualitative forecasting technique?

• A. The Delphi method
• B. Linear regression
• C. Moving averages
• D. Time series analysis

Answer: (A)

The Delphi method is a widely recognized qualitative forecasting technique that relies on expert opinions and consensus to predict future events or trends. It primarily involves a structured process where a panel of experts answers questionnaires in multiple rounds. After each round, the responses are summarized and shared with the group, allowing participants to reconsider their earlier opinions based on the feedback. This iterative process continues until a group consensus is reached. Qualitative forecasting methods like the Delphi method are effective in scenarios where historical data may not be available or when the subject matter is complex and requires expert judgment. This sets it apart from the other techniques listed, which are quantitative in nature, relying on numerical data and statistical analysis to identify patterns and make forecasts. Linear regression, moving averages, and time series analysis all involve mathematical computations based on historical data to produce forecasts, making them unsuitable as qualitative methods.

The Delphi method is a widely recognized qualitative forecasting technique that relies on expert opinions and consensus to predict future events or trends. It primarily involves a structured process where a panel of experts answers questionnaires in multiple rounds. After each round, the responses are summarized and shared with the group, allowing participants to reconsider their earlier opinions based on the feedback. This iterative process continues until a group consensus is reached.

Qualitative forecasting methods like the Delphi method are effective in scenarios where historical data may not be available or when the subject matter is complex and requires expert judgment. This sets it apart from the other techniques listed, which are quantitative in nature, relying on numerical data and statistical analysis to identify patterns and make forecasts. Linear regression, moving averages, and time series analysis all involve mathematical computations based on historical data to produce forecasts, making them unsuitable as qualitative methods.