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Qualitative Techniques

Data Collection and Forecast Techniques

Forecasts are usually based on historical data manipulated in some way using either judgment or a statistical technique. Thus, the forecast is only as good as the data on which it is based. To get good data, three principles of data collection are important.

1. Record data in the same terms as needed for the forecast. This is a problem in determining the purpose of the forecast and what is to be forecast. There are three dimensions to this:

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