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Collect reliable data to analyze. How is the trend affecting different industries and regions?
Is it an emerging, growing, or mainstream trend? Is it a micro or macro trend, or maybe even a megatrend, or is it just a fad?
Is it possible to understand the trend and where it will lead? Is the trend worth reacting to and acting on, or should it be ignored?
If the trend is interesting enough to act on, how do we approach it?