Deciding how to improve the firm sales forecasting

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Phil Connor, the VP of Sales for Punxsatawney Products is deciding how to improve the firm’s sales forecasting. Currently they use a computer system that models sales mathematically based on past sales and economic data. Phil is considering a more qualitative approach to forecasting, particularly a forecast that combines the sales estimates of all the company’s salespeople. What is this form of forecasting called? What are some of the problems/limitations of this approach, and what are some things Punxsatawney Products can do to improve the accuracy of this approach?

Reference no: EM132226521

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