Market research and forecasting help ensure that you are investing in a device or drug that is needed and will be well received. In this article, Sanobar Syed, Associate Director of Forecasting, Market Insights and Strategies, BeiGene, highlights strategies to support data collection for forecasting in emerging markets.
Business strategy and forecasting influence several functional areas within an organization, including R&D, pipeline planning, revenue planning, inventory, resource and budget allocation, project prioritization, compensation plans, market access efforts, and more. These varied uses reflect the first major challenge of forecasting: meeting the needs of varied and diverse stakeholders. Following are three steps to make your forecasting efforts more effective.