Quantitative forecasting is a method used to predict future events or trends based on historical data and statistical techniques. It relies on numerical data, such as sales figures or economic indicators, to create models that can estimate future outcomes. This approach is often used in fields like finance, economics, and supply chain management. The primary advantage of quantitative forecasting is its objectivity, as it minimizes personal bias by using data-driven analysis. Common techniques include time series analysis, regression analysis, and exponential smoothing, which help organizations make informed decisions based on projected trends and patterns.