Quantitative Forecasting Techniques

Quantitative forecasting techniques use numerical data and statistical models to predict future outcomes. These methods analyze historical data—like sales, market trends, or economic indicators—to identify patterns or relationships. Common techniques include time series analysis, which looks at data points over time to spot trends, and regression analysis, which examines how different factors influence the outcome. By applying mathematical formulas, organizations can generate forecasts that help in planning and decision-making, increasing accuracy compared to guesswork. These techniques are valuable in various fields such as finance, supply chain management, and marketing.