How do you apply the PESTEL framework to analyze the macro-environmental factors affecting trends?
Trend forecasting is a skill that helps you anticipate and respond to the changes and opportunities in your industry, market, or niche. It involves identifying and analyzing the drivers, signals, and patterns of emerging trends, and translating them into actionable insights and strategies. One of the tools that can help you with trend forecasting is the PESTEL framework, which stands for Political, Economic, Social, Technological, Environmental, and Legal factors. In this article, you will learn how to apply the PESTEL framework to analyze the macro-environmental factors affecting trends, and how to use it to generate ideas and scenarios for your business or project.