1. © 2008, Business Forecast Systems, Inc. www.forecastpro.com/Trends

2. Opt-in Survey of Trends e-Newsletter Readers 24 Completed Surveys The Survey Investigated: -Which departments or functional areas actively participate in developing new product forecasts and whether one specific department or area has the final say on new product forecasts -The importance of judgment versus quantitative approaches to new product forecasting -The methods or approaches used for new product forecasting -Satisfaction with new product forecast performance/accuracy Original Survey and Trends Archive Available at: www.forecastpro.com/resources/trends/index.html

3. © 2008, Business Forecast Systems, Inc. www.forecastpro.com/Trends The survey indicates that participation in new product forecasting tends to involve a significant number of departments/functional areas.

4. © 2008, Business Forecast Systems, Inc. www.forecastpro.com/Trends It is very common for companies to have one department which has final say on the new product forecast. Most often this is Marketing, but only in about 1/3 of the companies.

5. © 2008, Business Forecast Systems, Inc. www.forecastpro.com/Trends Judgment is clearly seen as the most important component in new product forecasting. Not one company reported the quantitative component as the most important.

6. © 2008, Business Forecast Systems, Inc. www.forecastpro.com/Trends

7. While some companies have a very high percentage of products each year that are new, for most the percentage is 20% or less. Most companies are not pleased with new product forecast performance/accuracy.

8. © 2008, Business Forecast Systems, Inc. www.forecastpro.com/Trends Additional Resources www.forecasting-summit.com Twice-per-year forecasting conference offering forecasting education, practitioner case studies and applied research in forecasting www.forecasters.org/foresight/index.html Web Site for Foresight: The International Journal of Applied Forecasting http://bus.utk.edu/ivc/forecasting/forecastingreadings.html The University of Tennessees Sales Forecasting Management Forum’s On-Line Library: Downloadable PDFs of Articles and Papers on a Wide Range of Forecasting Topics www.forecasters.org International Institute of Forecasters Web Site