Business forecasting is analysis of past and current situations in order to anticipate the future. The most widely used type of business forecasting is sales forecasting, predicting future sales, but businesses engage in a variety of other forecasting efforts. Major forecasting concerns for businesses include predicting future workforce requirements, CAPITAL investment needs, and materials. Forecasts are typically incorporated in BUSINESS PLANs. Business forecasting can be either qualitative or quantitative and subjective or objective. Qualitative forecasts are generalized predictions about the future, while quantitative forecasts result in a specified number, percentage change in sales, additional workers needed, etc. Subjective forecasting is based on peoples’ opinions. Subjective forecasting techniques include jury of executive opinion, DELPHI TECHNIQUE, sales force composite, and surveys of buyers’ intentions. Objective forecasting methods include trend analysis, market tests, and regression analysis. (These techniques are discussed in greater detail in the SALES FORECASTING entry.) Whether quantitative or qualitative, subjective or objective, businesses use forecasting to make decisions in the current time period affecting production, sales, and profits in the future. Anticipating and then meeting the future needs of customers is critical to MARKETING STRATEGY.