Judgemental Forecasting and Delphi Method Quiz

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What is the Delphi method?

A systematic and qualitative method of forecasting by collecting opinions from a group of experts through several rounds of questions

When is judgmental forecasting used?

When there is a complete lack of historical data

What does machine learning focus on?

The use of data and algorithms to imitate the way that humans learn

What has created prerequisites for wider use of machine learning in predictions?

Increased computer power and increased demand volatility

What is Optimization in the context of revenue management?

Next evolution of the revenue management function involving mathematical thinking

Test your knowledge of judgemental forecasting and the Delphi method with this quiz. Learn about using qualitative methods to make forecasts when historical data is not available or when facing new market conditions.

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