There are two main types of forecasting methods: Qualitative and Quantitative.

Qualitative Forecasting relies on expert judgment, intuition, and subjective analysis. It is useful when there is a lack of historical data, such as forecasting new product demand.

Quantitative Forecasting involves mathematical models that analyze historical data to make predictions. This includes time series analysis, moving averages, and exponential smoothing. Quantitative methods are preferred when sufficient historical data is available.

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