Identify trends of the market with Pythia
Can you still remember the Cronut and all the fuss about it? The combination of donut and croissant first put half of New York City upside down and was resounded throughout the world shortly after – with most people really only hearing about it, since the sought-after hybrid was only to be bought in one bakery and sold out shortly after opening. The trend lasted quite some time, creator Dominique Ansel established further bakeries from London to Tokyo and revealed his cronut recipe to amateur cooks in his book „Secret Recipes from the World Famous New York Bakery“.
Which trend already peaked its success and which will move mainstream? What can stand its ground in these parts? By now only little is spoken about the former food trend cronut. In these cases, conventional market research can only offer decision guidance for the present. Looking out for eventual trends at international trade fairs isn’t an efficient and safe kind of market research in today’s modern, fast moving market. For finding new trends in advance and implementing new ideas into the market in time this method is too late.
From estimates to forecasts
On the contrary, numbers can make objective, dependable statements. That’s why market research agencies and trend institutes line up to predict market developments and make the right decisions. In the application area of trend research AI plays – through us – a leading role. For example, our AI Pythia, which can do very precise trend research for future trends. Her algorithms deal with collecting, controlling and analyzing huge amounts of data, which are being evaluated with an artificial neural network. Instead of just calculating complex as-is states, which would be too large for the human brain, she can create forecasts. Therefore, Pythia recognizes trends and creates forecasts, which can provide a relevant competitive advantage.
The advantages are obvious: With accurate forecasts companies can make relevant products and respond to customer’s demands in real time. Thus, product engineers can make their choices for their product’s ingredients or colors more effectively and marketing managers know which topics are trending.
Pythia was able to prove itself repeatedly: Based on a trend analysis Foxybox, the first European beauty box, defined its product range with her assistance. Since influencers want to talk about the latest quite regularly, results have been in favor and have seen enormous growth in a short period of time.
By using Pythia it’s possible to forecast trends: With it, trend forecasts for future demands can be created. Thus, interested companies can improve their products development.
Send us a message or give us a call! We clear things up on how you can prepare your company for future trends with Pythia.