Advantages and disadvantages of Survey Techniques

Question

What are the advantages and disadvantages of survey techniques?

Answer 1

Advantages:

1. This technique is simple and less expensive.
2. These techniques give substantial amount of qualitative information which may be helpful in business and economic forecasting
3. These methods are usually used to supplement other quantitative forecasting techniques.

Disadvantages:

1. While the opinions differ this will create problem
2. Not helpful for long term forecasts