Demand forecasting of new products has been a persistent challenge for many industries. Although attempts to use AI for new product forecasting in the manufacturing sector have increased in recent years, companies often struggle to see tangible results. I posit that in today’s VUCA environment, the goal is no longer forecast accuracy and that a paradigm shift is necessary. In this article I propose ‘sense-making demand forecasting’ supported by advanced technologies that enhance visibility into demand drivers. This new forecasting approach will not only pro- vide companies with the confidence to launch new products but also lead to creating ...

From Issue: A Spiral Into AI Mediocrity: AI is Not Taking Your Job Anytime Soon
(Spring 2024)

Combining Forecasting & Demand Creation for New Product Launches