Whereas quantitative refers to numeric and objective qualities that someone can measure, qualitative refers to subjective qualities that rely on opinion, observation or listening abilities.

Alongside accounting basics, understanding the different financial forecasting models and how to implement the model that’s right for your startup’s business plan is absolutely essential.

This post originally appeared at American Express OpenForum. Whether it's Gap officials determining how many sweaters to stock on their shelves or a local diner making waitstaff decisions, businesses ...