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Welcome to the November issue of ValueNotes Connect.
To quote Nobel Prize winner, Niels Bohr – Prediction is very difficult, especially if it’s about the future.
In January of 2018, the global economy was projected to grow at 3.9% in 2019; that figure was revised down to 3% in October this year. Until a few days ago, the media was awash with predictions about Germany (Europe’s biggest economy) on the brink of a recession. And could economists have predicted the extent of uncertainty that Brexit and the US-China trade war would cause?
The same applies to businesses. Competitive and market intelligence analysts are routinely tasked with forecasting market (or product) growth. Regardless of the models or methods used for market sizing and forecasting, there is one common failing with most of these forecasts. And that arises from the simple straight-line extrapolation of the very recent past.
These days it appears next to impossible to ignore big data and analytics. Big data is the next big thing, and analytics will provide answers to all our problems. And if we have no data, we can always mine it from social media or the Internet. We will make better marketing decisions, acquire more customers, improve profitability and beat the pants off competition. Is this real, or hype?
Do read our case study about how in-store retail customer data provided valuable analytics across multiple parameters.
As always, we hope you enjoy reading our newsletter, and we look forward to your comments.
Best regards.
Forecasting market growth and the recency effect
by Arun Jethmalani
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For businesses of all kinds, yesterday’s success is history. What matters is the future. As a result, competitive and market intelligence analysts are routinely tasked with forecasting market (or product) growth. Often, business plans are built on such forecasts. But if you ask the users of these estimates, there is more than a healthy scepticism. After all, who can predict the future? |
Data, data, everywhere… only a drop of insight
by Arun Jethmalani
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These days it appears next to impossible to ignore big data and analytics. Big data is the next big thing, and analytics will provide answers to all our problems. When we’re stumped, big data will tell us what to do! We will make better marketing decisions, acquire more customers, improve profitability and beat the pants off competition. Is this real, or hype? |
- Webinar: Market intelligence: how to recognise reliable information
Some client problems we have solved:
- Size of the roasting equipment market for peanuts & edible nuts
- Opportunity assessment study for a specialised resin in the auto 3D printing market
- Market size and opportunity assessment study for a substitute to plywood
- Identified unaddressed customer needs of mobile phone users through social media
- Customer satisfaction study increased the number of referrals, and reduced client acquisition costs
| Do get in touch with us on email – research@valuenotes.co.in Or leave us a message using our online form |
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