ABSTRACT
One of the tenets of in-market forecasting is that there is knowledge to be gained from a review of the historical data. In the 1980s a burgeoning global economy and relatively few restrictions on pharmaceutical pricing led to accelerating product growth. In response to commercial pressure on the industry, strategic planning for the future took on greater importance and forecasting became a major contributor to the strategic planning function. The processes, tools and methods available to the forecaster have continued to develop and contribute actively to the revitalisation of the forecasting function. In forward-thinking organisations the forecasting position is no longer one of simple spreadsheet manipulation; rather, the forecaster has evolved into a holistic painter of the future. The future of forecasting is its transformation from simple number reporting to offering these holistic frameworks in which to evaluate potential futures.
