‘Tis the season when it’s common to see predictions for the New Year. It is important to keep the following in mind when reading predictions; whether business, economic, personal or trend related.
Predictions allow for an open interpretation of data
Those making the predictions are allowed to pick and choose whatever data and facts they like and manipulate them to support their prediction of the future. This allows us to find a prediction that matches the future we are looking for. For example, if a retailer is looking for growth in their market, they can likely find a prediction that says 2023 will be a great year for retailers.
Facts are optional
Some predictors prefer to rely on only their isolated beliefs, perceptions and crystal ball gazing ability. When a prediction is a figment of a vivid imagination, it can be wonderfully comforting and dangerous. For example, imagine a retailer reading a prediction of growth in their sector, so they may be inclined to sit back and look for these profits as opposed to innovating or improving the customer experience.
A lack of accountability
There is no accountability to review or even remember past predictions. This is a common attribute of predictions and prediction-making. The retailer expecting growth based on a prediction that didn’t come to fruition has no one to blame but themselves for believing it.
The best predictions…
Make your own prediction that is aligned with your personal dreams and business goals.
Here is my personal prediction: It’s going to be the best year yet because we’re aligning our personal and business goals with a strategic plan of action to make it happen.