Decision-makers worldwide are faced with increasing uncertainty. Disruptive changes in the economy and society seem to make it impossible to predict with any certainty how demand will develop. However, when it comes to strategic and operational planning, it is crucial to success to be as accurate as possible in anticipating future developments in demand in good time.

Given dynamic and rapidly changing consumer behaviour, managers in marketing, distribution and product development wonder:

“”How will demand for our products and services develop in one month, in three months and in one year from now?””

Implicit demand prediction (IDP) provides valid insights into this critical issue for business.

Current customer behaviour is determined by memories of present and past experiences. In turn, these influence expectations and consequently future customer behaviour. Customers’ knowledge of their own preferences and motives as well as those of society as a whole are stored in unconscious structures in the memory, in the so-called implicit memory. The justification for a decision meanwhile is a conscious process in the explicit part of the brain. Implicit demand prediction relies on an efficient response time analysis in order to recognise implicit motives and preferences and on an analysis of answers to open-ended questions to record explicit justification.

What is the added value of predictions if the external parameters in the market and society change quickly? An efficient forecasting tool should include the option of assessing how demand is affected by changing parameters. Implicit demand prediction includes an interactive simulator which uses AI-based key driver analysis, enabling you to easily adapt your forecast to changing external situations using a sliding bar.

The highly standardised survey design used for implicit demand prediction features an interview lasting less than two minutes and guarantees fast and efficient insights. The latest methods from consumer psychology and artificial intelligence are able to generate reliable and credible insights into future purchasing behaviour. Everything is collated on a very clear, interactive dashboard, which every stakeholder in the company understands and can use for operational and strategic planning.

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Dr. Steffen Schmidt

Marketing Science & Agile Insights