NEWS3 May 2023

Foresight Factory develops business decision-making platform

AI News Technology Trends UK

UK – Predictive consultancy Foresight Factory has launched an artificial intelligence-based insights platform aimed at enterprise consumer brands, as it looks to offer ‘an antidote to the insights industry’.

Meabh Quoirin

The Foresight Factory team analyses data sets to identify consumer trends, which the ‘Collision’ platform then matches with current commercial activity including new product launches, to identify opportunities and risks for businesses.

Linking commercial data with trends in this way means the platform can highlight ‘white space opportunities’ and other options for companies to differentiate themselves, according to Foresight Factory.

Launching the platform is part of Foresight Factory’s shift from ‘consumer insights provider to business decision-making partner’, the company said in a press release.

Foresight Factory has around 200 brand customers. Founded in 1996, the company has offices in London, New York, Seattle and Singapore.

Meabh Quoirin, co-founder and chief executive, Foresight Factory (pictured), said: “We want to show enterprise B2C brands new, more effective ways of working – we're not just peddling the zeitgeist with articulate flair. Businesses need deep commercial insight combined with consumer trends data to feel confident in their future strategy.”

The new platform will “help clients be more agile and able to shape and anticipate what’s coming”, added Quoirin.

Christophe Jouan, co-founder and chief executive, Foresight Factory, added that the company’s aim with the new platform is to “deliver an antidote to the insights industry” by combining “human expertise” with “AI and ML data-crunching”.