2 Main Approaches to Price Forecasting

Price forecasting is the process of using past data, statistical methods, and other analytical techniques to predict the future prices of a particular product, service, or asset. Price forecasting is commonly used in financial markets, commodity markets, and other industries. Price forecasting aims to predict the future prices of a product or service, allowing businesses to make informed decisions about pricing, production, and marketing strategies. Accurate forecasting allows businesses to anticipate changes in demand, supply, and market conditions, which can help them manage risk, optimize inventory levels, and improve profitability.

The two main approaches to price forecasting are quantitative approach and qualitative. Quantitative involves analyzing numerical data and applying mathematical and statistical methods to predict future prices. This approach relies on past data and uses various techniques, such as time series analysis, regression analysis, and machine learning algorithms, to identify patterns and trends in the data. The models developed through this approach can then be used to forecast future prices with varying degrees of accuracy. Qualitative Approach It involves analyzing non-numerical data, such as market trends, consumer behavior, and other external factors, to predict future prices. This approach relies on expert judgment, subjective interpretation of data, and qualitative techniques such as surveys, interviews, and focus groups to identify emerging trends and market conditions.

Quantitative approaches rely on statistical analysis and past data to generate numerical forecasts. In contrast, qualitative approaches consider non-numerical factors such as market trends, expert opinions, and industry insights to make informed projections. Both approaches have their strengths and weaknesses, and the choice of which method to use will depend on the specific circumstances of the market analysis. In many cases, qualitative and quantitative methods may generate more accurate price forecasts.

1. Quantitative Forecasting

A quantitative approach to price forecasting involves using mathematical models and statistical analysis to predict future prices based on past data. This approach uses numerical data to generate predictions rather than relying on qualitative or subjective analysis. 

Quantitative methods for price forecasting can include time series analysis, regression analysis, and machine learning algorithms. Time series analysis involves analyzing patterns and trends in past data to identify cycles or trends that can be used to predict future prices. Regression analysis uses statistical models to generate forecasts to identify relationships between various factors and price movements. Machine learning algorithms use complex mathematical models to learn patterns and relationships in past data and use that knowledge to generate predictions about future prices.

The quantitative approach can provide insights and improve the accuracy of price forecasting. It is important to note that it needs to be more reliable. Unforeseen events, changes in market conditions, and other factors can lead to deviations from predicted prices. It is essential to use quantitative and qualitative methods to make informed decisions.

What are the common Types of Quantitative Forecasting?

Businesses use quantitative forecasting methods to predict future demand, sales, or prices. The 4 most commonly used quantitative forecasting methods are the listed below.

1. Straight line method

A straight-line method is a simple form of forecasting that uses linear regression analysis to predict future prices based on past data. The technique analyzes the linear relationship between time and price, meaning that the price changes by a constant amount over a given time period.

Following are the 4 steps to use the straight-line method:

1. Collect past price data: Gather past data on the price of the product or asset over a period of time. This data can be obtained from various sources, such as financial databases or company records.
2. Plot the data on a graph: Plot the data on a graph with time on the x-axis and price on the y-axis. The data points should form a straight line if the relationship between time and price is linear.
3. Calculate the slope of the line: Use linear regression analysis to calculate the slope of the line. The slope represents the rate at which the price is expected to change over time.
4. Use the slope to forecast future prices: Calculate the predicted future prices by multiplying the slope by the time period being forecasted.

For example, the slope is Rs.5 per month, and the forecast period is six months. The forecasted price would be Rs.30 higher than the current price.

The straight-line method is a simple approach to price forecasting and is appropriate when the relationship between time and price is linear. It does not, however, account for changes in market conditions or unexpected events that can affect prices. It is hence important to consider other forecasting methods also.

2. Naive Method

A naive method is a simple approach to price forecasting that predicts the future price will be the same as the most recent observed price. This method does not consider trends or patterns in past data and is based solely on the most recent price.

Follow the steps given below to use the naive method:

1. Collect price data: Collect past data of the product or asset price over a period of time. The source of data can be financial databases or company records.
2. Determine the most recent price: Identify the most recent price in the past data set.
3. Use the most recent price as the forecast: Use the most recent price as the forecast for the future price.

The naive method is a simple and easy-to-use approach to price forecasting that is appropriate when the price is stable, and there are no significant changes in market conditions. 

3. Seasonal Index

The seasonal index is a statistical technique used in price forecasting to adjust past data according to seasonal variations. Seasonal variations refer to regular patterns or fluctuations in demand or price that coincide each year due to factors such as holidays, weather, or other events.

Follow the given 5 steps to calculate the seasonal index:

1. Collect past data: Gather past data on the price of the product or asset over a period of time.
2. Identify seasonal patterns: Analyze the data to identify seasonal patterns or fluctuations in demand or price.
3. Calculate the average price for each season: Calculate the average price for each season. For example, you are analyzing monthly data, calculate the average price for each month over several years.
4. Calculate the seasonal index: Calculate the seasonal index for each season by dividing the average price by the overall average price for the entire data set. For example, the average price for a particular month is Rs100, and the overall average price for the whole data set is Rs80. The seasonal index would be 1.25.
5. Apply the seasonal index: Multiply the seasonal index by the current price to adjust for seasonal variations. For example, the current price is Rs90, and the seasonal index for the current season is 1.25. The adjusted forecasted price would be Rs112.50.

The seasonal index method can improve price forecasting accuracy by accounting for seasonal variations in demand or price.

4. Moving Average Method

The moving average method is a simple statistical technique used in price forecasting that calculates the average price over a specified time period. This method assumes that the average price over a given time period can be used to forecast future prices.

Follow the given 4 steps to use the moving average method for price forecasting:

1. Collect past price data: Collect the past price of the product or asset over a period of time.
2. Determine the time period: Decide on the time period to use for the moving average calculation. This could be days, weeks, months, or any other time interval.
3. Calculate the moving average: Calculate the moving average by adding up the prices over time and dividing by the number of data points. For example, you use a 3-month moving average, add the prices for the last 3 months and divide by 3 to get the moving average.
4. Use the moving average to forecast future prices: After the calculation, use it to project future prices. For example, the current moving average is Rs100, and you forecast 3 months into the future, the predicted price would be Rs100.

The moving average method is a simple and easy-to-use approach to price forecasting that is appropriate when the price is stable, and there are no significant changes in market conditions. 

The quantitative method, however, does not account for trends or other factors affecting prices over time. It is, therefore, essential to consider other forecasting methods also.

What are the benefits of quantitative methods?

The quantitative approach uses mathematical models and statistical analysis to predict future prices based on past data. These are 5 benefits of quantitative forecasting:

1. Accurate: Quantitative forecasting techniques are often more accurate than qualitative methods. Quantitative methods can provide more accurate forecasts by analyzing past data, trends, and patterns.
2. Consistent: Quantitative forecasting techniques can provide consistent results over time. Using the same data and models, forecasts can be repeated and compared over time to track changes and adjust accordingly.
3. Faster Decision-making: Quantitative forecasting can provide forecasts quickly, allowing decision-makers to make firm decisions promptly. 
4. Easy to scale: Quantitative forecasting techniques can be applied to large amounts of data, making them easy to scale and efficient.
5. Risk Management: Quantitative forecasting can help organizations better manage risk by identifying potential risks and trends. This can help mitigate losses and increase the chances of success.

Quantitative forecasting can significantly benefit organizations by improving decision-making, increasing efficiency, and reducing risk.

What are the Downsides of Quantitative Forecasting?

Quantitative forecasting is a statistical and mathematical approach to predicting future trends and patterns based on historical data analysis. Quantitative forecasting has several benefits, but there are 5 important downsides to consider:

1. Limited Scope: Quantitative forecasting is limited to the data available. Forecasts be less reliable if past data is incomplete, inaccurate, or not representative of current market conditions.
2. Assumptions: Quantitative forecasting models are based on assumptions and predictions about future market conditions. The inaccurate assumptions or incomplete forecasts make it less reliable.
3. Lack of Context: Quantitative forecasting models need to consider qualitative factors influencing future market conditions, such as political events, changes in consumer behavior, or natural disasters.
4. Dependence on Past Data: Quantitative forecasting uses past data to make predictions. Forecasts is less reliable if market conditions change dramatically or past data is irrelevant.
5. Lack of Human Judgment: Quantitative forecasting techniques rely on mathematical models to make predictions, often without considering human judgment or intuition. This can result in forecasts that are not aligned with decision-makers expectations.

Quantitative forecasting has many benefits, but it is important to consider its limitations and consider qualitative forecasting methods and human judgment to make informed decisions.

2. Qualitative Forecasting

The qualitative approach uses subjective and non-quantitative data to predict future price rates or market conditions. This approach relies on human judgment, opinions, and experiences to make forecasts rather than statistical or mathematical models. Qualitative forecasting is often used when past data is unavailable or incomplete or market conditions are expected to change significantly.

The qualitative approach can take many forms, such as expert opinions, surveys, focus groups, or case studies. Experts in a particular industry or field are often consulted to provide insights and ideas on future market trends, customer preferences, or technological advancements. These experts may also be asked to make predictions based on their experience and knowledge. 

What are the popular Types of Qualitative Forecasting?

Qualitative forecasting methods are subjective and judgmental and rely on expert opinions, market research, surveys, and other qualitative data sources. The 4 most commonly used qualitative forecasting methods are described below:

1. Market research

Market research is a qualitative forecasting method that gathers information about customer preferences, behavior, and attitudes through various research techniques such as surveys, focus groups, and interviews. Market research is a valuable tool for forecasting as it provides insights into consumer trends and preferences that can be used for decision-making. Businesses can anticipate changes in the market and adjust their strategies accordingly by understanding what drives consumer behavior. Market research also allows businesses to identify opportunities and potential threats and optimize their marketing efforts. It’s important, however, to note that market research has limitations, such as the potential for bias and the difficulty of predicting future behavior based on past behavior. Market research can be a powerful tool for qualitative forecasting, enabling businesses to make informed decisions that drive growth and success.

2. The Delphi method

The Delphi method is a qualitative forecasting technique that involves gathering and analyzing expert opinions on a particular topic. The experts are typically individuals with expertise and knowledge in the forecasted area. They are asked to provide their views on a series of questions or scenarios. The Delphi method aims to build consensus among the experts by presenting their responses anonymously and then repeating the process until an agreement is reached. The Delphi method is beneficial for complicated problems where there is a lot of uncertainty or when the opinions of multiple experts are required to get a reliable forecast. The Delphi method can be applied to various industries, from technology to healthcare to finance. It can help organizations make more informed decisions in the face of uncertainty.

3. Executive opinions

Executive opinions are a type of qualitative forecasting method that involves gathering the opinions of senior executives within an organization. These executives have significant experience and knowledge of the industry, market trends, and the company’s position. Executive opinions can be collected through interviews, surveys, or other feedback.

It is important to note that executive opinions are subjective and may be influenced by personal biases or incomplete information. 

4. Internal polling

Internal polling is a qualitative forecasting method that gathers employee feedback of a specific organization. This can be done through surveys, focus groups, or other methods of gathering feedback. Internal polling is helpful for forecasting because employees are often closest to the company’s operations and understand the company’s strengths, weaknesses, and potential opportunities.

It is important to note that internal polling has limitations. Responses may be biased or influenced by a desire to please management, and not all employees may be comfortable sharing their opinions. Internal polling may also not provide a representative sample of the rest of the population.

Qualitative forecasting relies on subjective opinions and research. It is, therefore, advised to use other methods to get accurate results.

What are the benefits of Qualitative Forecasting?

Qualitative forecasting is the technique of forecasting the upcoming trends or prices of commodities and services using subjective and non-quantitative data. 

These are 5 benefits of using qualitative forecasting methods:

1. Flexibility: Qualitative forecasting methods are often more flexible than quantitative methods and cater to the organization’s or industry’s needs.
2. Cost-effectiveness: Qualitative forecasting methods can be less expensive than quantitative methods, especially in data collection and analysis.
3. Quick results: Qualitative forecasting methods can provide immediate results, allowing organizations to respond rapidly to market changes.
4. Identifying new opportunities: Qualitative forecasting can help organizations identify new opportunities and emerging trends that may not be captured in quantitative data.
5. Improved decision-making: Qualitative forecasting methods can help organizations make more informed decisions by thoroughly understanding the market and its impact factors.

Qualitative forecasting methods complement quantitative methods and provide a complete understanding of the market and the factors that drive it.

What are the downsides of Qualitative Forecasting?

There are several benefits to using qualitative forecasting methods, but there are also some downsides that organizations should consider. 

Following are the 5 downsides of Qualitative forecasting:

1. Subjectivity: Qualitative forecasting methods are subjective and may be influenced by personal biases or incomplete information, resulting in less accurate forecasts.
2. Lack of precision: Qualitative forecasting methods often need more accuracy than quantitative methods, making it difficult to make detailed predictions or projections.
3. Limited sample size: Qualitative forecasting methods often rely on small sample sizes, making it difficult to generalize findings to a larger population or market.
4. Time-consuming: Qualitative forecasting methods can be time-consuming, as they often involve collecting and analyzing large amounts of data from multiple sources.
5. Difficulty in quantifying results: Qualitative forecasting methods can produce results that are difficult to measure, making it challenging to compare results or evaluate the success of a forecasting method.

Qualitative forecasting methods can provide valuable insights into the market and help organizations make informed decisions. But they should be used with quantitative methods to ensure a more comprehensive and accurate understanding of the market and its impact factors.

What is Price Forecasting?

Price Forecasting is the process of envisioning or predicting the price of a commodity, services, taxes, or assets using different analytical techniques. It includes analyzing past market trends and patterns, financial fluctuations, supply and demand rates, and other factors that affect price movement. Price Forecasting is an important tool for businesses and investors to make purchase decisions, sales, and other investments.

Accurate price forecasting leads to tremendous success and lower risks in the business. These are, however, not always correct, as a slight misinterpretation of data can lead to inaccurate forecasting, which will be adverse to its benefits. Examples of price forecasting are predicting the future price of commodities such as gold, oil, real estate, stock market, etc., and trading or investing based on it.

Deep learning is a powerful tool for predicting stock prices. It uses advanced neural networks to analyze vast amounts of data and identify patterns that are not visible to the human eye. Deep learning models can be used to forecast stock prices, identify trends, and make informed investment decisions.

Why is Price Forecasting important?

Price forecasting is the technique of predicting future market trends, the price of a particular commodity or asset based on past trends and current market scenarios. Following are the 5 important reasons stating the importance of price forecasting-

1. Helps make decisions- Price forecasting provides ideas of upcoming trends and market movement to traders and investors. It allows them to make a proper plan and build a decision accordingly.
2. Make them aware of risk management- Accurate price forecasting can help businesses and investors reduce risks by providing insight into market trends and taking measures to manage their risk.
3. Improves budget planning- Price forecasting lets traders plan the expected upcoming trend for sales, inventories, productions, etc.
4. Profit- Accurate price forecasting helps the business and investors to plan trade properly, which leads to a profitable business.
5. Helps in supply management- Price forecasting tells the upcoming market conditions, including specific products’ demands. By predicting future trends, businesses can prepare themselves to cater to the needs of consumers by managing supply and production.

Price forecasting is a very important tool for businesses. It provides insight into future market trends and conditions, letting businesses plan accordingly to achieve their goals.

What is the purpose of Price Forecasting?

Price forecasting is the prediction of upcoming price rates for a commodity, asset, or market condition. The primary purpose of price forecasting is to help businesses, traders, and investors to make decisions about buying, selling, and trading accordingly.

Price forecasting helps in various fields, including the economy, financial decisions, manufacturing, production, etc. Price forecasting predicts the prices of commodities like oil, gold, etc., in the economic and financial area. It can also indicate the upcoming market trends, which tell us the demand for certain products and their manufacturing needs. 

Accurate price forecasting can provide many benefits, including improved profits, better risk management, and increased competition. For example, a company can accurately predict the future price of a commodity. In that case, it can purchase the commodity at a lower price, reducing its production costs and improving its profitability.

How is price forecasting being done?

Price forecasting uses different analytical techniques to predict future trends, market conditions, and upcoming price rates of goods, services, commodities, and assets. It helps businesses in various ways. 

Time-series analysis is one of the most common ways to approach price forecasting. It involves data analysis by identifying past price fluctuations, patterns, and trends. Regression analysis is another way of price forecasting. It includes analyzing the relationship between the price and other factors such as demand, supply, production, competition, availability, etc. Various other price forecasting techniques exist, such as machine learning, fundamental analysis, etc. 

Price forecasting requires statistical expertise, domain knowledge, and a thorough understanding of the market and industry. It’s essential to know that no approach can accurately predict prices with 100% certainty, as many factors can affect prices.

Descriptive analytics is a type of data analysis that focuses on describing past events and understanding the current state of a business or organization. It involves analyzing historical data to identify patterns, trends, and insights that can be used to inform decision-making. Descriptive analytics answers the question: “What happened?” Predictive analytics, on the other hand, is a type of data analysis that uses statistical algorithms and machine learning techniques to make predictions about future events or trends. It involves analyzing historical data to identify patterns and trends that can be used to make informed predictions about future outcomes. Predictive analytics answers the question: “What is likely to happen?” Predictive analytics can be used in a variety of fields, such as finance, marketing, healthcare, and sports. For example, in finance, predictive analytics can be used to forecast stock prices or identify potential fraudulent transactions. In healthcare, predictive analytics can be used to identify patients at risk of developing certain conditions or to predict which treatments will be most effective for individual patients. Descriptive analytics is often used in conjunction with predictive analytics to provide a comprehensive understanding of past and current trends, as well as to validate predictive models. Together, descriptive and predictive analytics can help organizations make more informed decisions and improve their overall performance.

How is price forecasting being approached in manufacturing?

Price forecasting in manufacturing units is a significant area of research that predicts the future demands and prices of the products. It lets the manufacturers forecast models and strategies and plan accordingly. Price forecasting in manufacturing has proven to be an essential tool to cater to consumers’ needs and maintain its position amid the rising competition in the market. The goal is to generate accurate price forecasts to help manufacturers make informed pricing decisions and remain competitive. However, price forecasting can be challenging due to market uncertainty and require ongoing monitoring and adjustment.

How is price forecasting being approached in electricity?

Price forecasting in electricity involves forecasting the electricity price in the upcoming time and its usage. Electricity price forecasting can be measured in several ways: time series analysis, regression analysis, etc. The use of electricity is rapidly increasing in today’s time. Past prices on demand, weather, fuel prices, and other market factors are analyzed to identify patterns and generate forecasts. It is essential to prepare for the upcoming needs for electricity, and hence price forecasting plays a significant role by helping in it. Price forecasting in electricity is particularly challenging due to changing regulations, weather, and the unpredictable nature of demand.

How is price forecasting being approached in flights?

Price forecasting in the airline industry is calculated through complex algorithms and data analysis techniques designed to predict changes in demand and pricing trends for airline tickets. Several factors can impact the price of a flight, including seasonal demand, competition, fuel prices, and route popularity. Dynamic pricing and data mining are the two most common ways of flight price forecasting. Dynamic pricing involves adjusting ticket prices in real time based on changes in demand and supply. On the other hand, data mining consists in analyzing large datasets to identify patterns and trends that can be used to predict future price changes.

Machine learning techniques and AI algorithms are the other ways of price forecasting. These techniques can help airlines optimize their revenue and profitability by offering the correct ticket prices to the right customers at the right time.

How is price forecasting being approached in real estate?

Price forecasting in real estate is generally approached through various statistical and machine-learning models that analyze past sales data and macroeconomic factors such as interest rates, employment rates, and population growth. These models attempt to identify patterns and trends in the data that can be used to predict future prices. The approach to real estate price forecasting will depend on the specific needs and goals of the organization or individual involved and the availability and quality of the commodity.

How is price forecasting being approached in stock price?

Price forecasting in stock prices includes technical analysis, fundamental analysis, and machine learning techniques. Technical analysis involves studying past prices and data to identify patterns and trends that can be used to predict future price movements. Fundamental analysis involves analyzing financial statements and economic indicators to assess a company’s total turnover and forecast its future performance. Machine learning techniques involve training algorithms on large chunks of data from past stock prices and related data to learn patterns and predict future price movements. Overall, price forecasting in stock prices is a challenging task requiring analytical skills, domain expertise, and advanced machine learning techniques to make accurate predictions. It is crucial to invest wisely in the stock market. 

How accurate is price forecasting?

Price forecasting depends on factors such as the data’s quality and quantity, the category of forecasted products, the time interval of data forecasting, the market conditions, etc. 

Short-term forecasting is mostly accurate; at the same time, long-term forecasting can be risky and inaccurate. Long-term forecasting sometimes gets inaccurate because of changes in factors or uncertainties. 

Price forecasting gives traders and investors insight into upcoming trends and business opportunities, but it has limitations. Various other analytical tools are used along with this price forecasting to plan efficiently.

How is Machine Learning used for price forecasting?

Machine learning can be used for price forecasting by analyzing past price data and identifying and using patterns to predict future price movements. Machine learning can be applied to price forecasting in these 2 ways:

1. Regression Analysis: Machine learning algorithms can be used to build regression models that predict the relationship between different variables and the price of a product or service. The algorithm can predict future prices by analyzing past data and identifying patterns.
2. Time-Series Analysis: Time-series analysis involves analyzing past data to identify trends and patterns in price movements over time. Machine learning algorithms can be used to identify these patterns and predict future price movements based on historical data.

Machine learning can be a powerful tool for price forecasting, allowing organizations to make more accurate predictions and better pricing strategies. It is important to note that machine learning algorithms require high-quality data and expertise in data analysis to produce accurate forecasts.

What are Forecasting Models?

Forecasting models are mathematical or statistical tools that predict future outcomes or events based on past data and trends. These models can be used in various fields, including finance, economics, marketing, and operations.

There are 3 types of forecasting models, including time-series models, causal models, and qualitative models. 

Time series model: A time series model is a statistical forecasting method that uses historical data to predict future prices. This model assumes that future prices will follow the same pattern as past prices, and uses techniques such as moving averages and exponential smoothing to make predictions.

Econometric model: An econometric model is a statistical model that uses economic theory and statistical analysis to forecast future prices. This model takes into account various economic factors such as inflation, interest rates, and market trends to make predictions.

Judgmental forecasting model: A judgmental forecasting model is a subjective method of forecasting that relies on expert opinions and intuition. This model is often used when there is a lack of historical data or when the situation is too complex to be modeled using statistical methods.

The Delphi method: The Delphi method is a structured approach to forecasting that involves a panel of experts. The experts provide their opinions on future prices, and these opinions are then aggregated and analyzed to make a prediction. The process is repeated until a consensus is reached.

Each of these models has its own strengths and weaknesses, and the choice of model will depend on the specific situation and the available data. A combination of these models can be used to improve the accuracy of price forecasting.

Forecasting models are used to predict a wide range of outcomes, including sales, revenue, demand, and inventory levels. These predictions can inform business decisions and develop strategies for managing resources, optimizing operations, and maximizing profitability. Forecasting models are only sometimes accurate and should be used with other sources of information and expert judgment.

Can a Machine Predict Future Prices?

Yes, a machine can predict future prices using machine learning algorithms and statistical modeling techniques. Machine learning algorithms can predict future price movements and make informed forecasts by analyzing past price data and identifying patterns and trends.

Machine learning algorithms can be trained on large datasets of past prices and other relevant variables, such as supply and demand, economic indicators, and market sentiment. These algorithms can then use this data to predict future prices.

Does Statistical Data Determine Supply and Demand?

Yes, statistical data can inform and provide insights into supply and demand. Supply and demand are determined by a complex set of factors, including consumer behavior, production costs, availability of resources, and market competition. Statistical data can be used to analyze past trends and patterns in supply and demand and to identify correlations between different variables that may impact them. It is essential to consider other factors beyond statistical data, such as qualitative factors like changes in consumer preferences or unexpected events when making decisions related to supply and demand.

Is Price Forecasting Accurate?

Yes, but the accuracy of price forecasting can vary depending on the specific method or model used and the data quality. Forecasting models can provide valuable insights into future price movements but are not always accurate. Factors such as unexpected events, changes in consumer behavior, and market uncertainties can impact price movements and are difficult to predict accurately. It is important to regularly review and adjust price forecasts as new data becomes available and market conditions change.

Arjun Remesh

Head of Content

Arjun is a seasoned stock market content expert with over 7 years of experience in stock market, technical & fundamental analysis. Since 2020, he has been a key contributor to Strike platform. Arjun is an active stock market investor with his in-depth stock market analysis knowledge. Arjun is also an certified stock market researcher from Indiacharts, mentored by Rohit Srivastava.

Shivam Gaba

Reviewer of Content

Shivam is a stock market content expert with CFTe certification. He is been trading from last 8 years in indian stock market. He has a vast knowledge in technical analysis, financial market education, product management, risk assessment, derivatives trading & market Research. He won Zerodha 60-Day Challenge thrice in a row. He is being mentored by Rohit Srivastava, Indiacharts.