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Answer Posted / meghana gowekar
Delphi Technique
a forecasting method in which a cordinator seeks
predictions from experts who revise their opinions in light
of the opinions of the others until some degree of
consensus is reached.
Multistep method used to estimate future demand for a
product or service whereby a special group of experts in
economic forecasting exchange views and then each
individually submits estimates and assumptions to an
analyst who reviews all the data received and issues a
summary report. The summary report is then discussed and
reviewed individually by the group members who each submit
revised forecasts to the analyst, who then reviews the
material again and issues a secondary report. This process
continues until all participants reach a common ground.
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