How to predict the market demand of electric motors after 3 months?
I am studying the scope of electric motors used for cranes in Bangalore area in India. How can i predict the market condition after 3 months. I am havig data about the present requirement only. Can some tools be obtained for this purpose from internet or from some books? Plz inform.
Thankyou.
May 26th, 2010 at 4:03 pm
That is a hard question. You need to know to total number of cranes (motors) used for example 1 year ago and the number being used now. You can draw the graph on paper to get a very rough idea of whether it’s increasing or decreasing. The more data you can get, the better the graph (for example the number sold every month for the past 3 years). If you continue the line it will give you an idea of what might happen in the next 3 months.
This can get very, very complex, but if you can also make a good estimate as to the numbers that are being sold and that COULD be sold if they were available, they you will have an even better idea of market demand/potential. This number could be based on the number of cranes that are backordered.
This just scratches a very big subject. Good luck on your research.