What are the main advantages that quantitative techniques for forecasting have over qualitative techniques? what limitations do quantitative techniques have?

Question

Kendrick Prince

Business

7 May, 10:04

What are the main advantages that quantitative techniques for forecasting have over qualitative techniques? what limitations do quantitative techniques have?

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Lorelai Benjamin · Answer 1

Quantitative techniques are mathematically computed based on numerical data. They rely on historical data and that what happened in the past will continue to happen in the future.

Limitations that quantitative techniques have are that sometimes there is not enough tie to gather the data needed for a quantitative forecast and you must rely on the experience and the intuitive opinion of the managers.