Why do smart companies seem keener to forecast the market? | Milner Strategic Marketing

Why do smart companies seem keener to forecast the market?

SCIP

At EE’s London office this week, Milner’s Head of Market Analysis, Jonathan Davenport, gave a presentation at a Strategic and Competitive Intelligence Professionals (SCIP) event on how to support market and revenue growth with a market forecast. The event was attended by Fin Tech, Telecoms, Energy and Bio-tech companies (including Sage, BT, Schneider Electric and Smith Medical) and his presentation received excellent feedback.

Jonathan explained that although the process of modelling can be complex, his experience suggests that there are 3 core reasons why smart companies are keen to model the market:

1. Identifying new revenue opportunities
The in-depth breakdown of changing customer demand provides an invaluable tool to identify new sources of revenue
2. Developing the product roadmap
Model data will help you manage your product portfolio to ensure the right products are available for the changing needs of customers, at the right time
3. Supporting an investment decision
Evaluating the market will de-risk the investment process, as your likely returns can be calculated

Jonathan presented some of the theory behind forecasting and described three practical case studies of how market forecasts have been applied at BT, HTC and Morgan Advanced Materials.

As a result of the feedback and requests for a copy of his presentation, Jonathan has loaded his presentation onto Slideshare (click here) or you can read Milner’s updated white paper ‘Forecasting the Future for Profit’ on which his presentation is based by clicking here. Both sources include the diagram (below) which shows the multiple uses of a single market model across an entire company.

If you want to make a comment or have a friendly chat about modelling or forecasting your market, then email Jonathan at jonathan.davenport@milnerltd.com or call him on +44 7793 916886.

 

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