Forecasting vs. Trends analysis
Forecasting focuses on the birth and death of trends, not the statistics
generated once a trend hits an industry. The birth helps to tell how weak or strong an influence it may
have on an industry while it's death can be used to predict how it may influence an upcoming trend's birth
or lifecycle. Profiling of a trend is used to map its lifecycle.
Akin to a Meteorologist
A forecaster acts as a meteorologist for an industry. For example, someone may
look out the window and say "it looks like rain". However, a meteorologist is looking from a
satellite point of view so he may say "not only is it going to rain, it will begin about 5pm, continue
to early morning, and drop 1/4 inch of rainfall, so don't water your lawns today". He isn't guessing - he
just has a different vantage point.
Trends forecasting is a critical element for strategic planning inside corporate
America. It allows for successful entrance and exit strategies and protects the stability of a company.
The effort of a company to participate in a trend relies largely upon successfully navigating a trend.
If a trend is to be short lived a company may decide to limit resources and exposure or not participate
at all. Another strategy may be to participate fully but have a fast acting exit strategy.
Culinary Tides tracks the movement of 23 industries to forecast upcoming influences
on food, flavor, and health trends. Local, national, and global influences including consumer behavior, clinical
and industry research, technological, economical, environmental, and political factors are examined to aid
companies with entrance, exit, and navigation strategies to a trend.
Many times food, flavor and health trends are born outside the food industry and also find their opponents and
death there as well. So to only look at restaurants, food magazines, casual dining, and manufacturer's movements - you
can easily miss a trends birth or miscalculate its impact or time of death. Trends forecasting, if done well, is neither
opinion nor guess work. Done correctly it is based on predictive analytics and allows forecasting to move from art to
ust as a criminal is profiled by the FBI to predict his next move, profiling can
also be applied to a trend. In the case of a trend, it is the matter of profiling a mass conscience, not
an individual's will. Profiling looks at what is influencing a trend's direction, what would cause it to
change course, what may cause it to end, or continue and morph from a trend to a society norm.
culinary trends forecasting services