Forcasting And Decision Making Flashcards
1
Q
Define business forecasting
A
Forecasting is using existing data to predict future trends
2
Q
Name 2 ways of business forecasting
A
- Delph technique
- Brainstorming
- Consumer opinions/expectations
- Leading academic opinions
- Frontline staff opinions
3
Q
What is the Delph technique of forecasting
A
The Delph technique is getting a experts opinion
4
Q
Who brainstorms to forecast
A
A team of experts
