# What is quantitative techniques in forecasting?

Asked By: Meijuan Bone | Last Updated: 2nd June, 2020

Category:
news and politics
weather

**Quantitative forecasting methods**. It is a statistical

**technique**to make predictions about the future which uses numerical measures and prior effects to predict future events. These

**techniques**are based on models of mathematics and in nature are mostly objective. They are highly dependent on mathematical calculations.

Regarding this, what are the techniques of forecasting?

**Techniques of Forecasting:**

- Historical Analogy Method: Under this method, forecast in regard to a particular situation is based on some analogous conditions elsewhere in the past.
- Survey Method:
- Opinion Poll:
- Business Barometers:
- Time Series Analysis:
- Regression Analysis:
- Input-Output Analysis:

Also, what are the qualitative forecasting techniques? **Four of the better-known qualitative forecasting methods are executive opinions, the Delphi method, sales-force polling, and consumer surveys:**

- Executive Opinions.
- Delphi Method.
- Sales Force Polling.
- Consumer Surveys.

In this manner, what are the types of quantitative forecasting methods?

These **methods** are usually applied to short- or intermediate-range decisions. **Examples** of **quantitative forecasting methods** are last period demand, simple and weighted N-Period moving averages, simple exponential smoothing, poisson process model based **forecasting** and multiplicative seasonal indexes.

What are the three types of forecasting?

There are **three** basic **types**—qualitative techniques, time series analysis and projection, and causal models.