Qualitative forecasting relies on which of the following?

Qualitative forecasting relies on which of the following?

• A. Solely historical data
• B. Judgment and opinion in addition to data
• C. Only customer feedback
• D. Only machine learning

Answer: (B)

Qualitative forecasting centers on human judgment and insights used alongside available data to form forecasts, especially when future conditions aren’t fully captured by numbers. This approach blends expert opinions, market insights, and scenario thinking with whatever data exists, allowing consideration of factors like emerging trends, consumer behavior shifts, competitive moves, and new products. Relying only on historical data is a quantitative approach, and relying solely on customer feedback or on machine learning misses the broader, human interpretation and context that qualitative methods provide.