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What is the difference between qualitative forecasting techniques and quantitative forecasting techniques quizlet?- Qualitative forecasting is based on opinion & intuition. - Quantitative forecasting uses mathematical models & historical data to make forecasts.
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What are the quantitative and qualitative methods of demand forecasting?Methods of Demand Forecasting
Qualitative methods are used in traditional forecasting and involve a lot of experience, intuition and subjectivity. Quantitative methods use data and analytical tools for prediction and are the types of methods used in automated demand forecasting software.
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