How to Identify Industry Trends

How to Identify Industry Trends

Identifying market trends is essential for anticipating and planning for the future. In this blog post, the process of identifying industry trends is explored, and myths around trend-spotting are dispelled. Two guiding principles for trend identification are shared, as well as methods for identifying trends using tools and data available. Representatives of the future, such as scientists and technologists, as well as customers, partners, or suppliers, are important sources for spotting trends. Understanding technology development and analyzing ten main forces that shape trends is also essential. Identifying market trends requires exposure to the world, and organizations must exercise foresight continuously to realize the advantages.

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