5 Questions
What is the Delphi method used for in forecasting?
Collecting opinions from a group of experts through several rounds of questions
When is judgemental forecasting typically used?
When a new product is being launched
What does machine learning focus on?
Using data and algorithms to imitate the way humans learn
What is the next evolution of the revenue management function?
Mathematical Thinking
What created prerequisites for wider use of machine learning in demand forecasting?
Increased computer power and increased demand volatility
Test your knowledge of judgemental forecasting with this quiz. Explore forecasting methods for situations with no historical data, new product launches, market entry of new competitors, and unique market conditions. Understand the Delphi method and its use in systematic and qualitative forecasting.
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