Question
Delphi technique
Answer :
Word Count : 582
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The Delphi technique is a systematic and structured method of obtaining expert opinions to solve problems, make forecasts, and support managerial decision-making. It is particularly useful in Quantitative Analysis and Managerial Application when reliable historical data are unavailable, incomplete, or unsuitable for predicting future conditions. The technique was developed by the RAND Corporation and is based on the principle that a carefully organized group of experts can provide more reliable judgments than an individual expert. The Delphi technique involves a panel of experts who provide their opinions independently and anonymously. The anonymity is an important feature because it prevents influential individuals, senior managers, or dominant personalities from affecting the opinions of other participants. The experts do not normally meet face-to-face. Instead, their opinions are collected through a series of questionnaires or structured surveys. The
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