Qualitative Demand Forecasting

Qualitative demand forecasting is a method used to predict future sales based on subjective judgment rather than numerical data. It relies on insights from experts, customer feedback, and market trends. For example, businesses may conduct surveys or focus groups to understand consumer preferences or use the opinions of sales teams who interact directly with customers. This approach is particularly useful when there is little historical data available or when launching new products, as it captures the nuances of human behavior and market sentiment that numbers alone may miss.