2023 Volume 42 Issue 3 Pages 81-87
Firms are commercializing new business models using various types of data. The Japan Weather Association has handled a huge amount of meteorological data and developed a number of weather forecasting and disaster prevention projects. With the recent evolution of digital technology, they have succeeded in developing a product demand forecasting service by combining weather data, sales data, and consumer behavioral data. Despite falling outside of the Association’s core interest of disaster prevention, the researchers identified the opportunity to cooperate with companies in other industries and launched a subscription business model for their product demand forecasting service in the white space. The association was able to develop this product demand forecasting service thanks to advances in weather forecasting technology, which can now predict the future to a degree, along with the capabilities of their human resources (i.e. weather forecasters). In addition, as a social business player, the core value of “solving social issues” pushed the evolution out of the core space.
