Trend forecasting is the process of analyzing past data to identify future trends at both company and industry levels. Businesses use historical firmographic and other data for trend forecasting in contexts ranging from investment or market research to competitive intelligence.
Historical firmographic data is used in statistical models that forecast company or industry-level trends, such as the future decline or growth of entire industries and market sectors.
In-depth public resume and firmographic data with hundreds of unique data points tracked over time is ideal for quantitative forecasting, allowing investors and companies to identify patterns, evaluate risks and prepare for future changes.
Companies use our rich firmographic datasets combined with the power of historical data to forecast trends, allowing them to predict future changes and be better prepared. With up to 30 months of historical data and hundreds of unique data points, be sure to have the highest quality data.
Coresignal’s rich alternative data can help investors and companies with their market research processes. With over 140M+ records updated monthly across various categories, you can create large samples for in-depth analysis and unlock unprecedented insights into future trends.
Trend forecasting is quantitative, which means that it uses specific numbers from the past. Time series data is used, meaning data that can be plotted over a period of time, typically as a graph. One example is forecasting the growth of a selected company by tracking its employee number growth in different regions, which may be revealed as a linear pattern of increasing growth.
Although trend forecasting uses sophisticated statistical methods, it does not guarantee complete certainty. Unexpected events become more likely as time passes, so the farther into the future a prediction is applied, the more unpredictable the outcomes become.
A related concept, the term "trend analysis" is more commonly used in financial contexts. It's a technical analysis method that tries to forecast future stock market movements using recent trend data. Trend analysis, like trend forecasting, is focused on the premise that what has occurred in the past will help traders predict what will happen in the future.
Investment firms and other companies typically use our firmographic, public resume and job posting datasets for trend forecasting.
Trend forecasting utilizes data through numerous analyzation processes, creating in-depth market and industry insights.
Trend forecasting can be measured by sales revenue, return on investment, gross profit margins, and even overhead costs.