Please watch the video below and answer the following questions:

There  are many ways to approach business forecasting. For example, there are  both qualitative and quantitative methods. Some forecasts are based on  highly sophisticated statistical methods; some are based on experience  and examine past precedent, while others just follow a gut feeling.

The  selection of a method depends on many factors such as the context of  the forecast, the relevance and availability of historical data, the  degree of desirable accuracy, and others.

• After watching the  TEDTalks video, should the executives have considered qualitative  methods, quantitative method or both in the decisions. Please be  specific.
• What did you learn in this video that can apply to your professional life?