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SCRC Article Library: Q2 Forecasting: Approaches to Forecasting : A Tutorial

Q2 Forecasting: Approaches to Forecasting : A Tutorial

Published on: Jan, 26, 2011

by: Cecil Bozarth, PhD

Q2 Forecasting

What Is Q2 Forecasting?

  • Quantitative-Qualitative Forecasting
  • Basic ideas behind Q2 forecasting:
    • Wherever possible, forecasters should first develop a quantitative forecast, then use this for the basis for more qualitative analysis.
    • Historical data is never a perfect indicator of what will happen in the future, but this doesn’t excuse us from considering it!
    • By following the Q2 principle, forecasters can:
    • Keep their intuition grounded in the data.
  • Expose the assumptions behind qualitative forecasts (ex. – “Why do we expect demand to be three times higher than last year?”).

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