Event prediction – foresight that allows you to forward plan
The more you know about the future, the more you can prepare for it. Our event prediction solutions and software allow you to act now to meet the challenges of tomorrow and maximize your returns.
Events which might affect your business could include anything from falling or rising stock markets through to a change of government or technological advances. Or they could be more directly related to your area of operation – what effect will a new competitor have on your market, for example.
Our event prediction software also looks at specific business outcomes these events could affect.
Will you meet a sales target? Should you increase or decrease plant capacity? Take on staff or retrench? How much will a project likely cost by its completion – and when is this completion date likely to fall?
With the necessary knowledge you can then make the right decisions and take the necessary action in good time.
How our event prediction solutions work
As with concept testing, event prediction makes extensive use of our unique Predictive Marketing software, coupled with the collective wisdom of relevant participants.
Imagine, for example, that the event in question was the likelihood of meeting a future sales figure. As with a financial market, participants would be asked whether they would invest or divest, according to the probability of this happening. If the number of ‘investors’ is just 30%, this means that a majority of participants believe that the target won’t be reached.
This allows you to adjust projections and make other decisions accordingly. In the example above it could involve re-allocating production capacity, making changes to sales staff, reducing orders for raw materials and so on.
What event prediction can include
• Helping to structure the events and the optimum ways of evaluating them.
• Defining the process – from asking the right questions through to following up on the answers.
• Ensuring continuous participation via incentives.
• Monitoring the process, moderating the content and communicating with participants
• Providing the software as a service (SAAS) for you to deploy as you wish.
How you can benefit from event prediction
• You’ll be able to take decisions in good time confident that they’re correct.
• Sales expectations, staffing levels, raw materials, financing – advance knowledge means you’ll be able to ensure optimum results in all areas.
• Accurate timeline forecasting means you won’t incur extra costs by overrunning or by failing to meet expectations.
• By co-opting stakeholders into the process, you ensure that they feel valued and in touch.
Contact us now for more details of our event prediction solutions
