Forecasts & Predictions Are Getting Harder

Forecasts & Predictions Are Getting Harder

In 1900, London was the world’s most populous city with 6.5 million people, followed by New York, Paris and Berlin. Tokyo was the only non-Western urban center on the largest cities list. This year, no US or European city will be in the top 10... instead, it is Mumbai (India), Chongqing (China) and Lagos (Nigeria) with 15 million+ each.

Global growth will triple the earth’s population by 2050, and most of this is in the developing world. The total GDP of these developing economies will grow to twice the combined GDP’s of developed nations by 2025.

Forecasts and predictions are getting harder, because the pace of global change is rapidly increasing.

Thus, big data will become increasingly important to forecasting and prediction. Are you onboard?

 

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