Calculating and Predicting a Product Life Cycle

Innovation
Knowledge Center

 

Next Topic

Innovation > Forum > Calculating and Predicting a Product Life Cycle

Calculating and Predicting a Product Life Cycle
Mrinal Ghosh, Business Consultant, India, Member
If we had to determine the life cycle of a product how can it be done. What quantitative variables should we take in consideration for calculating the same and why? (...) Read more? Sign up for free

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in


  Predicting the Life Cycle of a New Product
Jaap de Jonge, Editor, Netherlands
  - Computers are better than humans in predicting the future in relatively unambiguous contexts.
- Humans beat computers in highly uncertain contexts.
According to Matthias Seifert and Allègre L. Hadida in "3 Humans + 1 Computer = Best Prediction" (HBR May, 2013), what is even better is combining the 'opinions' from BOTH computers and humans.
A best practice for highly uncertain environments, such as a product launch for a groundbreaking product, is to take 3 experts, average their opinions and combine that with the prediction by the computer, while giving greater weight to the experts opinion.

   
Special Interest Group Leader

Interested? Sign up for free.


Innovation
Summary
Forum
Calculating and Predicting a Product Life Cycle
How is Bass Curve Model Different from Product Life Cycle
🔥Measuring Adoption of Innovation
Best Practices
🥇External / Internal Influence Model
🥈Alternate Bass Model Formula
🥉Calculating Nt-1 in Bass | Calculating m, p and q in the Bass Model


Innovation
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
© 2020 12manage - The Executive Fast Track. V15.5 - Last updated: 1-6-2020. All names ™ of their owners.