That's why they are continuing to make such forecasts. People use multiple regression in Customer satisfaction study for identifying key drivers of satisfaction and predicting how overall satisfaction level changes if a company increases one satisfaction attribute by one point. This multicollinearity makes the estimation result very unstable. The estimated coefficients shall never be used to determine which attributes are most important. A squared simple correlation discloses more accurate information than a multiple regression.
Marketing research is about marketing decisions.
It is not about numerical games. There are few marketing research firms who are able to conduct multivariate analyses. However another tragedy arises when they try to sell their statistical models instead of marketing solutions. But we hardly heard them talking about marketing issues. Believe or not, biologists use the same analytical techniques to conduct their biometric analysis.