Expert Witness Blog
Sales forecasting expert witnesses may testify on sales promotions, retail sales, sales revenues and more. Referenceforbusiness.com describes three important qualitative forecasting methods: the Delphi technique, scenario writing, and the subject approach.
DELPHI TECHNIQUE.
In the Delphi technique, an attempt is made to develop forecasts through “group consensus.” Usually, a panel of experts is asked to respond to a series of questionnaires. The experts, physically separated from and unknown to each other, are asked to respond to an initial questionnaire (a set of questions). Then, a second questionnaire is prepared incorporating information and opinions of the whole group. Each expert is asked to reconsider and to revise his or her initial response to the questions. This process is continued until some degree of consensus among experts is reached. It should be noted that the objective of the Delphi technique is not to produce a single answer at the end. Instead, it attempts to produce a relatively narrow spread of opinions-the range in which opinions of the majority of experts lie.
Read more: www.referenceforbusiness.com.