When to use Qualitative Forecasting

As we already know qualitative information is descriptive in nature, relating to, or involving quality or kind. It has no numerical values which we can use in certain mathematical formulae.

We use Qualitative Forecasting :-
- if past data cannot be used reliably to predict the future.
- in case of technological trends
- for predicting Policies, Regulations
- When no past data is available, usually because the situation is very new.
- in case of entrance into new markets
- for Development of totaly new products

There are different methods for Qualitative Forecasting that will be described at different topic.