Trend forecasters predict trends and help businesses keep up to date and catch fresh trends for the right investment decisions.
Recently, only specialized qualified personnel could analyze the market and seek out trends, now artificial intelligence is dealing with this well. Signum.AI aims to help users find the most promising movements for profit.
Who predicts trends and why?
The work of a trend forecaster includes two points: notice the recurring motives and predict how they will develop. For example, in the fashion industry, you analyze fashion shows, exhibitions, street style, and celebrity looks. By the results, you identify those trends that will affect fashion. However, it is important to understand how consumer attitudes and behavior are changing – lifestyle changes play a big role in how things happen.
Forecasters provide businesses with up-to-date information on new trends that you need to focus on when planning the commercial development of a product. This helps them make quick and right decisions, which means a direct path to growth and new ideas.
In addition, trend-forecasting allows the entrepreneur to know in advance about the new emerging demand for a particular product, in order to know what investment decisions to make for a good profit.
Word of mouth is the initial indicator of a new trend
There is nothing more obvious than the increasing attention on the Internet to understand that new demand and a new product is emerging. Soon, thousands or millions of people will talk about and try this novelty.
Demand-forecasting is becoming an ever-increasing task among retailers and manufacturers. Even ten years ago, it was partly easier for sellers: buyers were not so spoiled by a wide range of products. Yes, and technology did not leave a choice, so few people thought seriously about forecasting trends. But times are changing.
Fresh investment projects that caused initial demand and word of mouth, like any company, pay to investors who supported the project at the initial stage. The modern market of trending products and companies offers a huge selection of investment projects, the variety of which is difficult to figure out and not to lose your investments.
With the right approach and early identification of the right projects, entrepreneurs earn 20% – 60% due to early entry. The market is rich in offers, and you can find the most reliable options for investment by conducting analysis and monitoring.
Big data is watching
Not any forecast specialist can analyze all the discussions on the Internet, identify relevant messages and find a pattern in this thread.
Fortunately, machine learning has come to the rescue of businesses and investors. The need for reliable data processing, the development of mobile technologies, the availability of information and the distribution of open-source software make AI a popular technology in the field of forecasting economic impacts.
The Signum.AI project has trained artificial intelligence to analyze more than 300,000 sources of information on the Internet to identify emerging trends under discussion.
The project constantly analyzes forums, portals, blogs, social media accounts and even comments in order to forecast the further growth of a product, project or a whole market.
Work with a huge amount of information
Until recently, analysts needed to monitor the market daily and view thousands of pages hoping to find something similar to a trend. You need to be an excellent observer and constantly look for something unusual in the market.
A good forecaster should also know the difference between a temporary craze in a small audience and a more fundamental trend that will affect millions of people around the world. In the early days, these two movements can look very similar.
Now, using Signum.AI, anyone can customize the search according to the criteria of the topic and the market in order to receive complete reports and growth forecasts directly to their personal account.
The artificial intelligence of Signum.ai is not left without the help of experienced professionals. Project analysts look at the data found, find out the cause of the trend and make a detailed forecast. An improved machine learning system allows them to issue long-term forecasts for up to 6 months in advance.
Take, for example, some new items of women’s clothing – something just invented by designers and preparing for production. Remember how the market exploded from the new Balenciaga sneakers recently? Now we can look at the statistics for similar products over the past few years to clarify the data.
We can also add global economic trends to the analysis and make a forecast regarding demand with great accuracy. All this is to ensure that Signum.AI subscribers will recognize the “new Balenciaga” and receive a detailed forecast of the growth, and application of this information.
Generalized
William Gibson has a famous saying: “The future is already here. It’s just not evenly distributed yet.”. If you are able to collect small pieces of big information in advance, the result can be beneficial.
Already today, artificial intelligence has made a quantum leap forward to help search for emerging trends. Machine learning and experienced Signum.AI analysts jointly reveal the secret of tomorrow’s popularity in the market and provide users with detailed forecasts of growth in demand for goods, companies or entire markets.
