From fragmented data to clear insights for the future: ETU’s journey with FIBRES

Oct 14, 2024

ETU ry, the Federation of Finnish Special Commodity Trade, operates in a fast-paced specialty retail sector where staying trenahead of market shifts is crucial. With an evolving landscape influenced by trends such as artificial intelligence, sustainability, and changing consumer behaviors, ETU recognized the need for a tool to help its members anticipate these shifts and plan accordingly. 

In 2024, ETU launched its first trend radar using FIBRES, a digital foresight platform designed to track and visualize key forces shaping the future of the industry. This powerful tool has enabled ETU to offer valuable insights to its members, empowering them to stay competitive in an ever-changing environment.

Key takeaways

  • Empowered strategic planning: ETU’s launch of a trend radar using FIBRES enables specialty trade companies to systematically monitor and visualize industry trends, allowing for proactive strategic planning and better decision-making in a rapidly changing market.
  • Seamless transition to continuous foresight: By utilizing FIBRES, ETU has successfully shifted from sporadic foresight activities to a continuous foresight process, enhancing their ability to anticipate changes and adapt strategies accordingly.
  • Inspiration for industry collaboration: The success of ETU’s trend radar has encouraged its member associations to engage in their own foresight efforts using FIBRES, fostering a collaborative environment for strategic innovation within the specialty trade sector.

The challenge: disconnected and siloed foresight based on ad-hoc research

ETU’s member organizations were grappling with a challenge – foresight work was fragmented and sporadic. Information on future trends was scattered across various channels, making it difficult for the industry to gain a clear understanding of the forces shaping their future. 

"We needed a unified platform that could help us organize and visualize all the scattered data in a way that would make sense for our sector," explains Taija Lintumäki, who leads foresight work at ETU.

Building on existing media monitoring

Before FIBRES, ETU had been using a media monitoring tool to stay informed about industry developments. While useful for tracking current events, it wasn’t enough for proactive foresight work, as it primarily captured news about events that had already occurred.

Now, with their media monitoring integrated into FIBRES through RSS feeds, ETU can use the information more effectively for foresight and sense-making. Instead of dealing with a flood of news and scattered information, they can connect these insights to their existing trend tracking, continuously enriching their foresight themes. Media monitoring has become a core source of foresight material, seamlessly feeding into their strategic planning.

On top of this, FIBRES’ AI adds another layer of intelligence and efficiency that their previous tool couldn’t offer. "It saves us a lot of time and effort by automating the gathering of relevant insights across themes, something that used to be a manual task," Lintumäki notes.

"FIBRES has significantly eased our work by allowing us to visualize the ideas and operational fields we're navigating, helping us better understand where we're heading and what factors influence our path. Using FIBRES during our strategic planning opened up several 'aha' moments for us. It brought new insights, especially in recognizing how certain factors are likely to change in the future."

Taija Lintumäki, Director of Communications, Federation of Finnish Commodity Trade ETU ry

The solution: a leap in foresight maturity with FIBRES

ETU utilized FIBRES to address these challenges and create a trend radar tailored specifically for the specialty retail sector. FIBRES provided a digital tool that allowed ETU to systematically monitor and visualize the trends affecting the industry, from technological advances to new regulations, and to publish the radar openly on their website.

"The visual tools in FIBRES make it easy to communicate complex information," says Lintumäki. "The platform allows us to map out key trends and understand how they might impact the industry in the coming years."

The trend radar focuses on themes such as AI and digitalization, changing consumer habits, EU regulations, sustainability, and workforce availability. These insights help member organizations to forecast potential future developments and proactively shape their strategies.

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Broadening the reach: industry associations get on board

ETU’s success with its trend radar has inspired other industry associations to begin their own foresight work. Currently, the Booksellers’ Association of Finland, the Finnish Hardware Association RASI, and the Finnish Health Product Retailers Association are leveraging FIBRES to build their own trend radars.

These associations are now equipped with the tools they need to forecast market trends, manage risks, and drive innovation within their sectors.

"We found it remarkably easy to get industry associations interested in FIBRES. The platform’s potential to deliver actionable insights resonated with them right from the start," notes Lintumäki.

A seamless transition to continuous foresight

One of ETU’s main goals was to shift from sporadic, ad-hoc foresight to a continuous process that could provide ongoing insights. FIBRES made this transition seamless by offering an intuitive platform that supports ongoing trend monitoring and data visualization.

"The transition from one-off foresight projects to continuous tracking has been smoother than we anticipated," says Lintumäki. "FIBRES has become an integral part of our strategy development, offering insights that keep us ahead of future challenges."

"As a communications professional, I find FIBRES to be incredibly user-friendly. The platform makes complex information easily digestible, which is essential for effective communication. Our view is that FIBRES will be a continuous and integral part of our foresight activities, helping us stay ahead in an ever-changing environment."

Taija Lintumäki, Director of Communications, Federation of Finnish Commodity Trade ETU ry

ETU is well on its way to long-term strategic success

By using FIBRES, ETU has made foresight an integral part of strategic decision-making in the specialty retail sector.

"FIBRES provides unique insights that are hard to find elsewhere," adds Lintumäki. "It’s helping us stay ahead of changes in the industry and giving our members a competitive edge in a challenging market."

Conclusion

ETU's innovative approach to foresight through the implementation of FIBRES has transformed how its members anticipate and respond to industry changes. By fostering a culture of continuous foresight, ETU is not only enhancing strategic planning but also empowering its members to thrive in an uncertain future. 

With the successful launch of its trend radar and the engagement of multiple industry associations, ETU is setting a new standard in proactive foresight that others in the specialty retail sector can emulate.

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Milla Lappalainen is head of marketing at FIBRES. She's excited to learn foresight best practices from the top organizations in the world already running their own foresight workflows and to share those learnings with others.

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