5 Questions
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 judgemental 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 created prerequisites for wider use of machine learning in predictions?
Increased computer power and increased demand volatility
What is Mathematical Thinking in the context of revenue management?
The next evolution of the revenue management function
Test your knowledge on judgemental forecasting, including methods used when there is a lack of historical data, new product launches, and unique market conditions. Learn about the Delphi method and forecast errors.
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