Quantitative forecasting is excellent at churning through large amounts of data and is less prone to bias. Forecasts are usually a quantitative estimate of future trends and values.
As an example, during the Christmas period, inventories of stores tend to increase in order to prepare for Christmas shoppers. Dependability: Risk of stock-outs are minimal. Accurate forecasting will help retailers reduce excess inventory and thus increase profit margin.
It is common in many situations — such as grocery store  or even in a Medical Examiner's office  —that the demand depends on the day of the week.
Staff will know important distinguishing features in product lines, understand customer response to promotions, and more. Such analysis is provided by both non-profit groups as well as by for-profit private institutions.
There are two forecast types: judgment-based e.