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Pathways to Consumer Insight

February 15, 2006

Today’s forecast…. is wrong

by Filed under Consumer Insite

Turn on your TV and tune to any news service. Within three minutes on average, an “expert” will be telling you what will happen next on this or that big issue of the day. The news and information media industry has gotten so big that it can no longer subsist on ‘what already happened’ and ‘what is happening now’ alone. It requires a steady output of ‘what will happen in the future’. What started as the fanciful musings of Jules Verne and H.G. Wells has become the serious Business of Forecasting.

So how good are forecasters at forecasting? The writer and self-styled intellectual historian Louis Menand, writing in the New Yorker magazine, has answers. (more…)


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