The Qualitative forecasting method is based on opinion and intuition.

The Qualitative forecasting method is based on opinion and intuition.

• A. True
• B. False
• C. Depends on context
• D. Not enough information

Answer: (A)

Qualitative forecasting relies on human judgment. It uses experts’ opinions, insights, and intuition to estimate future outcomes, especially when historical data are scarce, unreliable, or irrelevant to the situation at hand. Techniques like expert panels, interviews, market research, and the Delphi method gather subjective assessments rather than purely numerical measurements, which is why this approach is chosen for uncertain or novel scenarios. While some structured qualitative methods try to elicit and organize these opinions systematically, the inputs themselves come from people’s judgments, not from numerical historical data. That makes the statement true. In contrast, quantitative forecasting would be about numerical data and statistical models.

Qualitative forecasting relies on human judgment. It uses experts’ opinions, insights, and intuition to estimate future outcomes, especially when historical data are scarce, unreliable, or irrelevant to the situation at hand. Techniques like expert panels, interviews, market research, and the Delphi method gather subjective assessments rather than purely numerical measurements, which is why this approach is chosen for uncertain or novel scenarios. While some structured qualitative methods try to elicit and organize these opinions systematically, the inputs themselves come from people’s judgments, not from numerical historical data. That makes the statement true. In contrast, quantitative forecasting would be about numerical data and statistical models.