Forecasting techniques can be either quantitative or qualitative. Quantitative techniques use measurable data like time series analysis, extrapolation, regression analysis, and econometric models. Qualitative techniques are based on judgment and include input-output analysis, historical analogy, and morphological analysis. Time series analysis uses historical data trends to forecast the future. Extrapolation assumes current trends will continue. Regression analysis studies relationships between economic variables. Econometric models use statistical data to model relationships between variables like GNP and inflation.