November 21, 2017
Spot the Trends That Will Actually Affect Your Business
It’s always smart to pay attention to big-picture trends and patterns. But how do you translate those signals into usable insights for your business? Start by figuring out which trends matter. For example, a bank manager may not need to spend much time analyzing a general trend that individuals are moving closer to cities. But if the data shows that more people are renting homes rather than buying them — particularly in the region where she operates — this may indicate a decrease in loan requests in the future. By focusing on implications, you can find the trends that have the potential to impact your work. Meaningful insights can also come from combining trends and asking “What would happen if…?” Thinking through three or four plausible scenarios and how they might unfold will help you find new ways to overcome future challenges.
Adapted from the HBR Guide to Thinking Strategically |
