Which of the following best describes objective forecasting methods?

Objective forecasting methods are grounded in the use of quantified data to generate predictions about future outcomes. This approach relies on statistical analysis and empirical evidence rather than subjective opinions or personal biases, which is essential for accurate forecasting in fields such as finance, economics, and supply chain management.

By utilizing historical data, statistical models, and mathematical techniques, objective forecasting allows for a more reliable assessment of future trends. It minimizes the risks associated with guesswork or estimations that can lead to inconsistencies and inaccuracies.

The other options emphasize reliance on subjective elements, which do not align with the principles of objective forecasting. These methods prioritize data-driven insights, making them more robust and credible for decision-makers seeking to mitigate uncertainty and improve strategic planning.