QUALITATIVE FORECASTING TECHNIQUE
\kwˈɒlɪtˌe͡ɪtɪv fˈɔːkastɪŋ tɛknˈiːk], \kwˈɒlɪtˌeɪtɪv fˈɔːkastɪŋ tɛknˈiːk], \k_w_ˈɒ_l_ɪ_t_ˌeɪ_t_ɪ_v f_ˈɔː_k_a_s_t_ɪ_ŋ t_ɛ_k_n_ˈiː_k]\
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This is forecasting that uses factors that cannot be directly measured. The estimates are made with a systems of ratings to produce a figure. No verifiable data is used it is based on human judgement and the system of ratings to produce a result.
By Henry Campbell Black
Word of the day
tinctura quininae ammoniata
- A preparation made by dissolving quinin sulphate in alcohol [Br. Ph.].