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The article reports on a forecasting model that is relevant to the business field. The author focuses on using computer-based simulation to evaluate a technological forecasting technique, developed by Fisher and Pry, which can be used to facilitate strategic planning. The Fisher-Pry technology forecasting model is meant to measure the effect the implementation of a new technology has on an industry. According to the author, when one technology is substituted for another technology it affects industrial growth. The results obtained from the forecasting method were compared to the results obtained by using a linear method. Implications for business strategists are also discussed.
Hatten et al. (1973) studied this question.