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Definition

  1. (environments definition) A frequently used method in futures research to obtain the consensus opinion of a group of experts about likely future developments. A series of questionnaires is used with controlled feedback given to participants between rounds of questions.
  2. (marketing research definition) A method of forecasting that relies on repeated measurement and controlled feedback among those participating along the following lines:
    (a) each individual prepares a forecast
    (b) the forecasts are collected, and an anonymous summary is prepared by the person supervising the process
    (c) the summary is distributed to each person who prepared a forecast
    (d) those participating in the process are asked to study the summary and submit a revised forecast
    The process is repeated until the forecasts converge.[1]

References

  1. ^ American Marketing Association. AMA Dictionary.

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