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A Level Business Studies - Business Objectives And Strategies > Forcasting And Decision Making > Flashcards

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Define business forecasting

Forecasting is using existing data to predict future trends


Name 2 ways of business forecasting

1. Delph technique
2. Brainstorming
3. Consumer opinions/expectations
4. Leading academic opinions
5. Frontline staff opinions


What is the Delph technique of forecasting

The Delph technique is getting a experts opinion


Who brainstorms to forecast

A team of experts