Our Approach To Forecast Modelling
Different forecasts require different approaches as there is no one size fits all answer to forecasting and market modelling. So there are a series of questions that need to be answered before embarking on a forecasting exercise and these relate to such elements as
• Time scale required for the forecast
• How much history is available
• Amount of time and effort to be invested in the project
• Event Modification
• Available research for defining model structure
As an example, for your short term needs we normally recommend using time series modelling approaches and for longer term you might require an approach better suited to modelling product life cycles such as epidemiological modelling.
As an extension of this we have produced models designed to forecast launch take up and the impact of LOE.