Tag Archives: Prediction

Predicting The Unpredictable

You might be starting your work week pondering what new opportunities will present themselves. Then again, you might just as likely be sitting at your desk dreading those very same opportunities. For many folks, seeing and being ready for what’s just over the horizon is absolutely the hardest, most gut-wrenching part of their jobs. It certainly was for me and remains so as I work with clients on their behalf.

Part of what we probably ought to be doing is not thinking so much about what the next hot new platform is going to be and spending a lot more time on controlling the things we can.  Your immediate response might be “sure, all two of them” but there actually is quite a lot which can help mitigate the unpredictability of business these days. All we’re really trying to do is to change “predict” to “anticipate.”

We can anticipate a good customer’s birthday (assuming we’ve taken the time to gather that data) just as easily as we can anticipate them appearing in our place of business based on past behavior.  We can use that knowledge to send them a coupon or tweet birthday wishes to them.  I’m still surprised how few businesses listen to all of the social streams and attempt to cull knowledge from what they’re hearing.  The old-school megaphone mentality is still pervasive.  Most of us in marketing need to listen more, speak less, and react more quickly to what we’re hearing.  This isn’t so much predicting as it is reacting but unless you’ve taken the time to set up the processes and people required to be proactive (thereby predicting the need!), you’ll fail.

Here is my prediction.  The pace of change is going to continue to accelerate.  We see disruption in once unthinkable ways (the impending changes in the TV landscape, for one and the huge shift to mobile from the desktop for another).  Many of us will have meetings about the future and write “long-range” plans as we do our budgets.  Much of that is unnecessary.  Business has become more like driving a foggy road – you can only see so far out.    Pay attention to what’s visible with your past experience telling you what’s still hidden in the fog.  it will become clear eventually as long as you stay on the road.

 

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Prognostications

Want to have some fun?  Do a search for “predictions for 2013″ and use a search range of the six weeks prior to the start of the year.

Super Bowl Sunday Crystal Ball

(Photo credit: circulating)

You can do this for any year, but I took 2013 since the results of those predictions are still fresh in our minds.  Throwing out the fringe sources, one can find respected publications and authors making predictions about what was supposed to have happened last year.  You can click though here to a bunch from The Washington Post, as an example.  In some cases, they did pretty well.  In others, they could not have been more wrong (predicting Michelle Bachmann would become House Speaker when she ended up leaving Congress is just one example).

This sort of exercise seems sort of silly yet every business does this on a regular basis.  It’s important that we do so to a certain extent.  We need to predict demand and project sales.  We need to anticipate tastes and try to be ready when our customers need us to be.  The real issue, however, comes when we think we can predict the unpredictable.  To me that’s anything more than about six months down the road (something to think about the next time you’re asked for a five-year plan).

Most of us tend to weigh recent events much more heavily than longer term indicators. We also tend to forget that the past can only predict the future to a limited extent. Using data to make educated guesses is great, but it’s not the same as  predicting.  A forecast is an extension of trends.  It’s almost something a computer can do with a well thought out algorithm.  A prediction takes other factors into account.  Political realities that might change trends.  New technologies that can be disruptive and change those historical trends.

10 years ago here was one sage’s prediction for Facebook:

Facebook, lame or not, was certainly a heavy hitter of 2004, but watch out, I have a strong feeling it’s going to jump the shark. Maybe it already has.

Maybe so, but a billion plus users 10 years later shows just how hard accurate predicting can be.  Have any predictions you’d like to share?

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