Delphi Technique of Forecasting - Case Study Example

Only on StudentShare

Extract of sample
Delphi Technique of Forecasting

There after results are tabulated and issues raised are identified one by one. This step helps the planner to carefully study the various important issues to be addressed in the next round. It needs to be mentioned here that it is the same questionnaire that is given to all the experts in the panel. These days the questionnaire is sent through mail.
Now we come to the second round where the planar tries to hold a meeting with all the experts together and the results of the questionnaire are then return the experts. There are issues where experts agree where as there are some other issues on which they disagree. It is carefully noted by the planner and a general consensus is reached.
Finally we come to the third round where the various factors are reevaluated by everyone together and the issues are carefully discussed. In this particular Delphi method group judgments are more important than individual judgments.
Information processing. The experts collect the answers in the form of questionnaires and comments. The panel head controls the exchange of ideas among the experts by processing the data and deleting the unnecessary content. Usually the experts engage in disagreements during the panel discussion and hence it has negative effect.
Anonymity of participants. ...Show more

Summary

My organization uses the Delphi Technique of forecasting. This particular method of forecasting takes the help of experts in the fields in making predictions for the future. It is non quantitative method. Since it is considered to be based on expert opinion hence it is more accurate than other procedures.
Author : qcruickshank
Save Your Time for More Important Things
Let us write or edit the case study on your topic
"Delphi Technique of Forecasting"
with a personal 20% discount.
Grab the best paper

Related Essays

Numbering Technique
In order to understand how narrative style or form of a literature helps in clarifying its meaning and scope , first of all one needs to have a deeper understanding of the 'content' of the text. According to "A Short Organum for the Theatre", Brecht's ultimate purpose in changing the theater can be discerned as directed toward changing human society, informing the audience, and providing entertainment at the same time.
5 pages (1250 words) Essay
Forecasting
New areas of business need stochastic forecasting, and there are large elements of technical and specialized judgment that Daimler Chrysler must deploy for such matters. Daimler Chrysler has a healthy mix of product lines, including brands that are icons and very creative ideas which are on the brink on becoming commercial successes.
4 pages (1000 words) Essay
Financial Statement Forecasting
It will go a long way in streamlining and prioritizing its budgetary and planning objectives. Financial forecasting is also of vital importance for this company, considering the fact that it is a listed company and is being closely scrutinized by bankers and investors as never before.
3 pages (750 words) Essay
Operations Management Forecasting
This document is planned to help individuals who prepare business forecasts as well as those who appraisal the forecasts. Application of the methods contained in this report will assist to promote constancy in the growth of aviation forecasts. Preparers of business forecasts differ in their deepness of understanding and knowledge regarding forecasting and logical procedures as well as in their level of skill.
3 pages (750 words) Essay
Estimating Demand and Forecasting Sales and Sales Force" Simulation Summary
Predicting the sales volume of an operation is important for a variety of reasons. An accurate sales forecast allows a company to purchase the right amount of materials, thus eliminating excess inventory. It helps businesses in the budgetary
3 pages (750 words) Essay
Financial effects and constraint paper
It serves almost all fields of health care ranging from direct patient care and guidance to pharmaceutical research. All in all it seeks to promote the well-being of their patients. Considering pharmacy in this context, it has substantial effects on the
3 pages (750 words) Essay
Business forecasting

The author states that business forecasting is done on short-term, long-term, and medium depending on the particular application. Short-term forecast may include decisions on scheduling of production, personnel and transportation. Medium-term forecasts involve decisions on future resource requirements.

5 pages (1250 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT