Trend radar software offers a wide variety of teams orientation and decision-making confidence, especially in the dynamic market and competitive environment we find ourselves in today.
But what is a trend radar and what functions and advantages does trend radar software offer? That's exactly what we're going to address in this blog post and would like to help you make a decision.
Definition trend radar software
Advantages of Trendradar software over manual analysis
What functions should a good trend radar software contain?
By trend radar software we mean a collaborative software tool that supports and simplifies trend analysis. Essentially, a digital trend radar helps teams or companies to understand which external mega and macro trends influence them today and in the future, which pose a threat or an opportunity for innovation.
The external trends in the trend radar are evaluated based on various trends. Usually in the form of a questionnaire, internal or external participants are asked for an assessment, whose different perspectives are then presented in suitable evaluation graphics.
The results can then be segmented and compared to benchmarks to provide the most complete picture possible. In this way, teams or companies can identify potential threats or completely new innovation opportunities that arise from external trends at a glance.
In the digital trend radar, everything works much easier and faster than with manual trend research and analysis, which usually requires a lot of manual effort to create PowerPoint presentations that all too often end up in a drawer.
There are many different terms for working with trends: trend analysis, trend management, trend scouting and many more. It is important that you do not allow yourself to be confused by the many different terms and offers, because in principle it is always about understanding trends and their influence.
Trend radars are used to understand the influence of external developments on your own team or company and to create a consensus between those involved. Only with a common picture can effective measures be planned and implemented.
But first things first: With the trend radar, we dare to take a look into the future. Of course, no one can predict the future, but systematically dealing with the future can increase decision-making certainty.
Take, for example, the impact of machine learning on your business. Trend radar tools can help you identify macro trends such as machine learning and their opportunities and risks early on. What do you have of it? If you recognize the trend early, you can act proactively and plan measures. For example, you can estimate the impact of ChatGPT before the technology becomes widespread, used by many providers (perhaps including your competitors) and transforms entire markets.
The list of examples is endless. Consider, for example, the challenges faced by smartphone manufacturers and app developers under the influence of augmented and virtual reality. Or the influence of new working models and forms on HR teams . Or the innovations that smart homes and smart buildings are triggering in the construction industry. You see where this is going.
Trend radars are not just tools for strategy or innovation departments (see also our blog post on networked innovation work ). In principle, every company and every team that specifically deals with the future and plans its actions can work with trend radars.
The idea can be explained using the example of marketing teams: Marketing teams should also plan ahead strategically in order to make effective decisions. For example, which target groups and markets should be served with which channels and instruments. It is important to understand which trends are affecting your own markets and how these affect customer behavior.
Trends such as plant-based nutrition, self-monitoring and tracking, performance culture and new working models have a massive impact on many industries and markets. For example, if the marketing team of a food manufacturer does not recognize the importance of new nutritional trends (such as plant-based diets) in a timely manner, it risks losing its customers with its existing offering (such as animal products).
If, on the other hand, the marketing team anticipates trends with the help of a trend radar, it can take countermeasures at an early stage and adapt its own offering accordingly.
If you decide to work with trend radar software, you will benefit from many advantages over classic, manual research and analysis.
Although this type of software tool is still new, there are already a few providers on the market. You can find out here which functions make your life easier and what you should pay attention to.
When used correctly , trend radars bring your team many advantages , above all, of course, decision-making reliability and a better understanding of the future.
Using trend radar software can make your life easier and speed up many processes - provided you choose the right tool. In line with this, we would like to recommend the INNO-VERSE trend radar, which is perfect for large or small trend analyzes in any team or company. Take a look – you can test the radar for FREE at any time:
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