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Concrete data is immensely valuable in determining the next set of actions for your business strategy. However, there are many situations in which the data is not so concrete – in which certain findings need to be extrapolated from much larger data sets, often times completely hidden by noise in any other setting.

Research Optimus provides expert trend analysis services to our customers, identifying the present trends and mapping them using a number of advanced statistical tools like logistic regression, ANOVA, and Pareto charting. To learn more about trend analysis and how it can help you determine the next best course of action for your business, contact us today.

How Trend Analysis Works

The process of identifying a trend requires careful analysis of a number of data points, often hidden within an immense amount of noise. So, at first glance, most people wouldn't see anything. But the trends are there. Using techniques to extract patterns of behavior from the market, financials or customer actions over the course of time, we can spot specific trends so you can take action on them immediately. Correctly identifying and taking action on a trend in your market can give you an immense advantage over the competition, if only because it is so hard to identify these trends under most normal circumstances.

The process of spotting these trends takes years of practice using a variety of highly advanced statistical tools and software platforms. What might work effectively in one setting won't in another, so the individuals performing this analysis must not only understand the specific nature of what they are doing, but how it can be tweaked and altered depending on the field in which it is being gathered.

Important Aspects of Trend Analysis

Because of all of these factors, we use a variety of tools to gather data and better understand what people are doing, how they are progressing and what trends are developing, have developed or have run their course. Some tools and metrics that we use include:

  • Voice of the Customer (VOC)

    Using advanced statistical tools and surveying, we attempt to capture the exact preferences, dislikes and expectations of your customers to understand how they affect their decisions over time as part of a trend.

  • Customer Satisfaction (CSAT)

    Happiness (or dissatisfaction) of a customer can be a major tool in defining how a trend develops over time. This can be analyzed in conjuction with your campaign activity as well as those of your competitors.

  • Behavioral Pattern

    How do behaviors vary by time of the year, economic conditions, competitive behaviors, marketing strategies and more? We measure these patterns as part of a greater trend analysis.

  • Willingness to Pay (W2P)

    Using the data above and other variables defined within your industry we determine what factors make a customer willing or unwilling to pay for a product or service.

Whatever your goals as a business, never underestimate the value of using trend analysis to identify future patterns of behavior in your field. It may expose you to profitable opportunities otherwise undetected. Contact us today to learn more.

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