Although this article, Tipping Points: When to Bet on New Technologies, does get somewhat deep with analysis, breaking it down into simpler terms allows for the approaches to be understood. The facts are clear that consumer and industry innovations are continually moving forward. No matter what industry you are in including Transportation, competition will eat you up if you do not participate within the innovation world.
The four forecasting tools written within this article lay the groundwork for businesses to use for being on the leading edge of that innovation. Anticipation of shifts within the market through the use of forecasting tools gives a Transportation business the ultimate edge.
Owners and leadership of Transportation businesses use this advanced analytical approach to help them predict what may be coming next and how to meet the challenges head-on.
Predicting tipping points tolls are”
- Experience Curves – Show how unit costs decline relative to increased production volume
- Elements of Value Analysis – identifies attributes customers value most in a product, such as reduced cost or saving time
- Adoption Curves – Forecast the likely pace of adoption and saturation point
- Analysis of Barriers and Accelerators – Such as government policy, technology or consumer attitudes that could slow or speed the arrival and penetration of the innovation
The titles may sound complex, but when you look at the simpler definition, any Transportation business can see by using all four steps in conjunction can help build what the future picture could look like with your innovation enhancements.
Please read full article: Tipping Points: When to Bet on New Technologies for Transportation
Source: Mark Gottfredson and Dunigan O’Keeffe, Bain & Company, 6/11/19