The Six Main Steps To Structured Analogy

The structured analogy approach can be useful in many, but certainly not all, new product forecasting situations. It attempts to improve on human judgment alone by automating the historical data handling and incorporating statistical analysis.Judgment is always going to be a big part of new product forecasting. A computer will never be able to tell us whether lime green or Day-Glo orange is going to be the hot fashion color next season. But judgment needs assistance to keep it on track and as objective as possible. The role of structured analogy software is to automate the data extraction and processing work, provide visualization of the historical context for judgments and make the NPF process as efficient and objective as possible. Learn more in this whitepaper.

Sponsor: SAS