Correct option is B
Markov analysis is not a qualitative method of human resource demand forecasting. Rather, it is a quantitative/statistical technique used to predict future human resource supply based on historical data and probability matrices. It models employee movement within an organization (such as promotions, transfers, exits) to estimate future workforce availability in various job categories.
Markov analysis relies on transition probability matrices to calculate the likelihood of an employee moving from one job state to another over a period. It is data-driven, objective, and numerical in nature, making it distinctly quantitative, unlike methods like brainstorming or Delphi that depend on expert opinion and subjective judgement.
Information Booster:
Markov analysis uses past trends and data to develop probabilities of movement between job roles.
Helps HR managers in succession planning, internal mobility tracking, and forecasting internal labor supply.
Particularly useful in large organizations with structured hierarchical levels.
It operates on the assumption that historical patterns will continue, which can be a limitation if the environment is rapidly changing.
Markov matrices are useful for workforce planning, promotion path analysis, and identifying HR gaps.
It provides clear numerical outputs, unlike subjective expert-based techniques.
This technique falls under quantitative forecasting methods, as it involves calculations, percentages, and statistical modeling.
Additional Knowledge:
(a) Delphi Technique:
A qualitative forecasting method where a panel of experts provides anonymous opinions in multiple rounds. Feedback is summarized and recirculated until consensus is reached. Useful for long-term strategic forecasting and scenario analysis.
(c) Nominal Group Technique (NGT):
Another qualitative technique involving structured small-group discussions where members individually rank or vote on ideas. It ensures equal participation and avoids dominance bias. Often used for HR planning, problem-solving, and priority setting.
(d) Group Brainstorming:
A classic qualitative and creative technique where participants generate as many ideas as possible in a non-judgmental setting. Commonly used in early stages of HR forecasting to explore trends, risks, or workforce demands.
