Big data does make you smarter. In tourism, knowing who is visiting, when, from where and what they spend is valuable information. For housing, determining the optimal mix of units and rental rates is critical for ensuring financial sustainability. For land management, modeling is often the key to balancing competing uses of limited resources.
Predictive modeling uses big data as a starting point to forecasting future outcomes. A model of an economy or business will allow you to estimate the future outcomes of alternative policies and management and scenarios. Analyzing historical data to understand the interrelationships of various economic and environmental metrics is critical for successful model development. Comparing actual performance with model forecasts over time, not only improves model accuracy on an ongoing basis, but provides a deeper understanding of the economy.
An iterative learning process makes your organization more effective
Triple Point and SMG Consulting bring scenario modeling and strategic planning together to help organizations maximize economic, social, and environmental benefits, such as employment and revenue, while minimizing negative impacts such as traffic and pollution.
Scenario modeling and strategic planning intends to maximize economic and social benefits, such as tax revenues, while minimizing negative impacts such as traffic and pollution. Our approach integrates economic modeling and scenario planning to improve marketing strategy and, perhaps more importantly, to learn from the monitoring of actual results.
The process begins with developing a model of your business or economy. Models are created with historical data. Our team has decades of experience gathering the necessary data. We know where to find it, how to organize it, and create economic models with it. We can build a custom model quickly and efficiently. In most cases, we find more data about you than you realized existed. Few organizations leverage the full value of their data.
What is Modeling?
A Model is a simplified version of an economy or environment constructed with data
Models forecast possible futures and simulate the outcomes of scenario planning strategies
By simulating the alternative strategies, their inherent trade-offs can be quantified and evaluated
Models foster creativity, imagination, and innovation
The Benefits of Modeling
Modeling invigorates more creative thinking on how to achieve your organizations goals. Creating scenarios encourages client creativity in developing more effective strategy.
Really change the playing field to your advantage. Shift your focus from implementing programs to end results.
Modeling quantifies the environmental impacts of business development intentions, allowing negative impacts to be minimized in the planning process.
Understand the economic implications of marketing strategies. Modeling ties tourism promotions to the end results of tourism promotion.
A strategic planning process based on modeling scenarios determines the best path forward, unifying Boards and leadership teams.
Be the Authority
By quantifying your choices, forecasting credible futures, and making data-driven decisions you become the authority in your community or business.