1. © 2010, Business Forecast Systems, Inc. www.forecastpro.com/Trends

2. © 2010, Business Forecast Systems, Inc. www.forecastpro.com/Trends
Opt-in Survey of Trends e-Newsletter Readers
19 Completed Surveys
Questions Asked:
Do you forecast new products?
If yes, are your new products: direct replacements for old products; new but similar to existing products; new-to-the-company; new-to-world (multiple selections allowed).
If you indicated more than one new product classification from the list, do you use the same methodology to forecast all new products or do you use different methodologies depending on the type of new product?
What software product (if any) do you use for new product forecasting?
Please describe the methodologies used for each new product classification.
Do you document the assumptions that go into new product forecasting and if so, how?
Original Survey and Trends Archive Available at:
© 2010, Business Forecast Systems, Inc

3. © 2010, Business Forecast Systems, Inc. www.forecastpro.com/Trends
79% of those surveyed did forecast new products. For those who did not, marketing/product management was most often cited as being responsible for forecasting new products
© 2010, Business Forecast Systems, Inc

4. © 2010, Business Forecast Systems, Inc. www.forecastpro.com/Trends
Every respondent chose more than one of the new product classifications provided (direct replacements for old products, new but similar to existing products, new-to-the-company, new-to-world) while 73% of the respondents chose three or more classifications.
© 2010, Business Forecast Systems, Inc

5. © 2010, Business Forecast Systems, Inc. www.forecastpro.com/Trends
Almost three quarters indicated that they used different forecasting methodologies depending on the new product classification.
© 2010, Business Forecast Systems, Inc

6. © 2010, Business Forecast Systems, Inc. www.forecastpro.com/Trends
Just over half document the assumptions that go into their new product forecasts.
© 2010, Business Forecast Systems, Inc

7. Additional Resources www.forecasters.org/foresight/index.html
Web Site for Foresight: The International Journal of Applied Forecasting
International Institute of Forecasters Web Site
© 2010, Business Forecast Systems, Inc