Business planning often proves to be a core factor considered during the decision-making process in businesses. In order to come up with an all-inclusive business plan, two approaches are essentially utilized: qualitative and quantitative forecasts. In qualitative forecasts, information from sources such as sales representatives is utilized while in quantitative estimates, past data is utilized to predict the future. These approaches come with their limitations that may result in an incorrect business forecast. Here a few limitations faced during business…
