Validated Demand Forecasting Models

The demand forecasting models used by Format Analytics have been perfected and validated across thousands of examples spanning decades of experience. While demand projections can be based purely on patterns observed in historical secondary data, new product forecasts are most accurate when informed by primary survey research, which can be conducted among patients, healthcare providers, payers, and other relevant stakeholders. Importantly, the demand models employ validated algorithms to correct for the overstatement of usage intent that is inherent in all survey research. This enables the models to accurately predict true demand.

Interactive Forecasting Dashboards

Forecasts are delivered in the form of interactive dashboards, which allow you to vary important demand factors such as product features, launch year, and levels of market access. While these dashboards are elegant and easy to use, they also deliver massive forecasting power, generating custom demand simulations across geographies and market scenarios.

Forecasting The ROI of Promotional Campaigns

Prior to the launch of any promotional campaign, ROI estimation is critical. Our forecasting experts have been predicting the ROI of pharmaceutical direct-to-consumer advertising campaigns ever since these campaigns were first authorized by the FDA. Contrary to popular belief, ROI can be expressed in many different ways: using 12-month patient values, 24-month patient values, or even “gated” ROI – the ROI observed only during the timeframe when the campaign itself is active (the strictest definition of ROI). ROI is projected at the channel level (including individual digital channels like paid search, display media, and social media advertising), with interactive dashboards enabling you to vary the level of investment and the corresponding ROI projection for each channel.

Expert Human Review of AI-Generated Demand Forecasts

As generative AI evolves, the use of large language models (LLMs) to create basic demand forecasts continues to proliferate. Sure, AI can be used to generate demand forecasts, but how accurate are they, and should they be used to make essential business decisions? Format Analytics demand forecasting experts provide human review and critical evaluation of AI-generated demand assessments.

Enhance Other Research Methodologies by Adding Demand Forecasting

Proven research methodologies such as tracking, concept testing, and conjoint analysis offer compelling and useful findings. But how do these findings translate into future product demand? By adding a Format Analytics demand forecasting component, you can take your market research to the next level.