This may not make use of forecasting experts but involve line managers, etc. Delphi forecasting is a formal process for obtaining the consensus forecast of a particular situation which involves repeatedly asking a group of experts to provide their views whilst at the same time feeding back summaries of their findings so as to develop a common assessment. Expert judgement relies on a given expert, or group of experts within or outwith the firm, giving their considered view on the situation and its consequences. There is no attempt to get uniformity of opinion. This is a non-judgemental method which can be used as the starting point for the above approaches, often operationalised through brainstorming, where the intention is to create a set of alternatives without censoring the range or type of outcomes.
Intuitive forecasting tries to break free from the tramlines of conventional thinking.
No formal justification may be given for the forecast. The main differences between the techniques is that planning is usually based around one anticipated future outcome, as are the Delphi and expert judgmental approaches, although confidence parameters may or may not be used. Delphi forecasting aims to encapsulate a range of outcomes within one consensus forecast and involves redefining the forecast in response to feedback. Expert judgement relaxes the assumption of a consensus and allows for different approaches to be included and, if a group of experts are involved, may provide a range of forecasts reflecting the individual views of each forecaster. Scenario building explicitly makes use of alternative futures as part of the forecasting process.