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Using Trend Analysis for Strategic Business Planning: What You Must Know

What is trend analysis?

Trend analysis is the process of comparing business data over a period of time to identify the occurrence of any consistent results or trends. Business strategies can then be developed to respond to these trends in such a manner that they are in line with the company’s business goals. One of the key trend analysis objectives is to look at how a potential driver of change has developed over time and how it will likely develop in the future. Here, due to the creation of a plausible and detailed picture of the future, trend analysis proves to be a powerful tool for strategic planning. Historical data from the company’s database and that of the competitors can be used not only to track the current market trends but also effectively predict future trends.

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In business, trend analysis is typically used in two ways:

Revenue and cost analysis

A company’s income statement can be used to extract revenue and cost information. This data can then be arranged in a trend line for multiple reporting periods which helps examine trends and inconsistencies. Trend analysis methods are highly useful for examining preliminary financial statements for inaccuracies and identify if adjustments should be made before the statements are released for general use.

Investment analysis

An investor can create a trend line of historical share prices and leverage this data to predict future changes in the price of a stock. The trend line can also be associated with other information for which a cause-and-effect relationship may exist. This determines if a causal relationship between variables can be used as a predictor of future stock prices. Trend analysis can also be used for the entire stock market, to detect signs of an impending change from a bull to a bear market, or vice-versa.

Trend analysis importance

Trend analysis plays a vital role in improving business by:

  • Identifying areas where the business’s performance exceeds expectations so that success can be duplicated.
  • Identify and analyze areas where the business is underperforming so that necessary and timely action can be undertaken to bring the performance on track.
  • Acting as evidence for informed decision making.

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Companies best prepared for the future are those that track key variables and most accurately forecast industry trends. Request a free proposal to know more about our solutions for various industries.

Can trend analysis improve customer satisfaction?

Apart from revealing the market trends affecting the business, experts at Infiniti research conduct trend analysis to determine the spike or decline in the satisfaction levels of customers and sub-groups with the company’s customer base. Furthermore, strategic research methods and focus groups or representative samples are examined to analyze and understand the potential increase/decrease in customer satisfaction levels that would result from specific actions including upgrading the customer service or changing distribution methods.

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Top Trend Analysis Methods to Boost Business Profits

What is trend analysis? Trend analysis, as the name suggests, is an important part of technical analysis, which helps estimate the movement of stocks based on historical data. Trend analysis is based on the notion that analyzing the past data will give traders an idea of what is most likely to happen in the near future. It is extremely helpful for businesses since moving with the trend will result in substantial profits. There are three major trend analysis methods, namely geographic trend analysis, temporal trend analysis, and intuitive trend analysis. But before we deep-dive into each of these trend analysis methods, let’s take a look at how to best use trend analysis for continued business success.Get more info

To effectively analyze the applicable data, it is imperative to determine the market segment that must be analyzed. Once the market segment is selected, it becomes much simpler to study the general performance of the target segment. This includes analyzing how the market segment was affected by external and internal factors. The data which is then collected can be leveraged to predict the future direction of the target market segment.

Now that we’ve laid down the foundation for what’s trend analysis and how to leverage it for your business’ success, let’s look at some of the popular trend analysis methods:

Geographic trend analysis

This is perhaps one of the easiest and most reliable trend analysis methods. To do this, simply visit a country, city, or region where a particular trend is taking off and try to predict the rate at which it will spread – if not to the whole world, at least to some other areas. A couple of decades back, one of the automotive pioneers visited Tokyo and came back singing gospels of how smaller, fuel-efficient vehicles are the next big thing in the automotive market. Fast forward a decade and you’ll see how much of an impact the trend of smaller, fuel-efficient vehicles has had on the global automotive market.Get more info

Temporal trend analysis

Temporal trend analysis allows analysts to study and model the behavior of a variable in a data set over a period of time. This is one of the trend analysis methods that’s a little tricky for novices. Temporal trend analysis can be a little misleading if it’s applied to random activities or if a critical factor is left out. It can be used to estimate changes in the economy by analyzing the impact of regulatory changes on exports and imports or assessing the influence of terrorist activities on the economy.

Intuitive trend analysis

One of the most common trend analysis methods, intuitive trend analysis relies heavily on the analysts’ ability to process and understand all the information about a topic and predict its logical outcome. Such trend analysis methods are extremely difficult to execute effectively since numerous external factors play a critical role in shaping the outcome.

Infiniti Research is a leading provider of strategic intelligence solutions. For over 15 years, we have helped several Fortune 500 companies to improve business processes through data-driven insights. Our industry-leading trend analysis methods can help you devise actionable business strategies and boost profits.

Anatomy of the Medical Imaging Market – Where’s it Heading?

At first, it may be difficult to comprehend on how devices can circumvent through all the tissues, muscles, nerves, and bones to get the picture that helps doctors diagnose different diseases. Accurate diagnosis is one of the most critical aspects of health care, and detailed medical imaging is required by healthcare professionals to pinpoint the medical problem. Without medical imaging, they can only bring down the possibility to a few given conditions by monitoring the symptoms. However, with medical imaging devices, the problems can be located easily with perfection. There have been numerous advancements in the medical imaging technology, with doctors being able to see things in more details without causing harm to the patients. As a result, more and more diagnostic imaging Request Free Proposalprocedures are being performed. So, what are the trends in the medical imaging market?

Hybrid imaging technology

Hybrid imaging is the most talked about advancement in imaging technology. The PET and CT scan technology in one machine has augmented the innovations in this field. The system has been so successful that major imaging system manufacturers no longer provide standalone PET systems. Hybrid PET/CT, PET/MRI, and SPECT/CT are amongst others that have received attention. Numerous hospitals are now replacing their standalone systems for hybrid systems. For instance, while evaluating the skeletal system, a SPECT/CT system offers accurate localization and improves the information provided by CT.

Trends in Medical Imaging MarketSafer imaging systems

The general public is usually worried about the level and dosage of radiation they receive from imaging systems. As a result, doctors and patients may be reluctant when it comes to performing necessary scans. However, there have been technological advancements in this field as systems with lowered doses of ionizing radiation reduce the harmful effects of radiation. Reducing the radiation dose in a medical imaging system also provides them with a competitive advantage over their competition. Additionally, shifting from analog to digital system offers medical professionals with more accurate and faster imaging capabilities.

Value-based payments method

It is possible that a majority of the imaging tests prescribed by the doctors are deemed unnecessary. Additionally, even after having such images, the diagnosis and treatment plans are not very effective. With the advent of value-based payments methods, the current landscape is set to change. Both manufacturers and healthcare professionals will look to increase the quality and efficiency of their imaging service to please patients and improve their health outcome.

Use of contrast agents

Contrast agents are used in diagnostic imaging to enhance the image visualization. It provides detailed information, which can assist medical professionals in accurate diagnosis. The rising number of chronic diseases all around the world will drive the use of contrast agents in medical imaging market. Governments all across the world are also increasingly granting approvals for the use of contrast agents.

Cryogen-free preclinical MRI scanners

Radiologists today have a wide range of imaging technologies to choose from. As a result, it is bringing a radical change to preclinical medical imaging. Amongst all medical imaging technologies, cryogen-free MRI is gaining popularity as it uses a dry magnet that does not require liquid helium. Consequently, it significantly reduces the size and weight of MRI scanners. Also, such scanners can incorporate multimodality imaging capability and provide improved image resolution. In the near future, it may allow MRI to be used in cardiac imaging and time-resolved contrast enhanced angiography.

For more information on the trends in the medical imaging market:

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Market Share Analysis Helps a Leading Medical Supplies Provider to Capture Additional Shares in the Market

The global medical supplies market is projected to reach USD 136.63 billion by 2021

Typically, medical supplies companies manufacture and distribute a broad range of items, starting from surgical and dental instruments to elective laser surgery equipment to orthopedic products. The major factors driving the growth of the medical supplies market are the increasing incidence of various diseases, rising geriatric population, and rising number of surgeries. Additionally, the high growth of this segment can be attributed to the increasing investment in healthcare systems and growing prevalence of HAIs. Some of the trends in the global medical supplies market are the introduction of new value-added safety products and the adoption of home healthcare products.

However, our analysis of the latest healthcare trends shows that medical supplies providers across the globe are facing challenges in terms of:

  • Product quality: Medical supplies providers must assure top notch product quality to avoid product recalls. For a supplies provider, product recall negatively impacts its brand reputation and the company’s bottom line. Therefore, ensuring adequate security, product safety, and reliability are extremely crucial to survive the competition in the global market.
  • Cost of product: One of the major challenges for medical supplies companies is to overcome the increased cost of product development. Moreover, besides government regulations and technology, these companies must look to evaluate new products based on its price to reduce the overheads.

Many such challenges are forcing medical supplies providers to leverage the use of robust market share analysis solutions. Through an effective market share analysis, organizations can comprehend the amount of share that they hold in the market and accordingly allocate their resources.IR_RFP These solutions also help firms gain a holistic view of the latest healthcare industry trends and identify opportunities to capture additional shares in the market.

The Business Challenge

  • The client: A leading medical supplies provider

A leading medical supplies provider with distribution centers spread across the globe wanted to identify the potential opportunities across the healthcare industry space to capture the additional market shares. Additionally, the client wanted to identify the barriers to entry and scale their operations to improve profitability. As a result, the client wanted to profile the competitors and their market shares to effectively streamline their resources.

Want more information about our market share analysis for medical supplies providers across the healthcare industry?

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The Journey

To help the client identify the market entry barriers and expand their shares in the medical supplies market, Infiniti’s market share analysis experts carried out extensive research comprising interviews and discussions with leading stakeholders in the medical supplies market. The experts also compiled information from a wide array of sources such as paid industry databases, company presentations, and industry forums to help the client gain insights into the latest healthcare industry trends.

The Solution and the Business Impact

With the help of Infiniti’s market share analysis solution, the medical supplies provider assessed the relative competitiveness of their products and services with that of the competitors. The client also measured the market demand for medical supplies and evaluated the product penetration rates across the healthcare industry. This further helped the client estimate the size of the market both in terms of value and volume.

The Future

Today, technological advancements are helping connecting doctors and patients in new ways, transmitting vital data in real time, identifying life-threatening events, and treating them faster than ever before. For instance, the marriage of IoT (Internet of Things) and medicine generated IoMT (Internet of Medical Things). IoMT is expected to change the way the healthcare companies deliver medical supplies. IoMT devices link to cloud platforms, where the captured data can be stored and analyzed.

A must-read case study for strategy specialists and decision makers looking to develop a better understanding of the latest healthcare industry trends.


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