[Virtual Presenter] Today, we’re exploring different methods of sales forecasting. One key method is the Manager’s Hunch.
Definition: This approach relies on the intuition or "gut feeling" of experienced managers. Rather than using complex data, managers make forecasts based on their understanding of the market.
Usage: This method is often used by managers who have deep familiarity with the market. Their experience allows them to anticipate changes or trends based on past patterns and current market conditions.
Advantages: Manager's hunch is both fast and low-cost. Since it doesn’t require data analysis or sophisticated tools, it can be done quickly, saving time and resources.
Disadvantages: However, the downside is that it’s highly subjective. Because it's based on personal judgment, there’s a risk of error, especially if biases or assumptions aren’t checked. This method may lack the accuracy of more data-driven approaches.
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