naive quantitative methods
- naive quantitative methods
Techniques used to forecast future trends, e. g. the demand for a product, using historical data to calculate an average of past demand. When this data is plotted against time, it is known as a time series. It is usually assumed that a time series will consist of a number of separate elements, such as an underlying trend, seasonal variations, cyclic variations relating to the economy, and a random element. The accuracy of a time series as a forecasting tool is enhanced by identifying and separating these elements by the process known as decomposition. Compare causal quantitative models
Big dictionary of business and management.
2014.
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quantitative forecasting techniques — Techniques used to forecast future trends, e. g. the demand for a product, based on manipulation of historical data. See causal quantitative models; naive quantitative methods Compare qualitative forecasting techniques … Big dictionary of business and management
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