How Tomedes Estimation Tool Can Help Translators

Tomedes New 2013 Workflow Estimation Tool for Translators: How it Works

Translators, if you have not yet checked out our newly added workflow estimation tool for 2013, give it a whirl.  While we have said many times that the percentages calculated by our estimation tool cannot be relied upon as hard fact, it certainly helps to provide an idea of what to expect in 2013 as an overall workflow, compared to 2012.  As it contains most major language translation pairs and major industries, it is meant to be a guide for most translators, especially translators that work with Tomedes.

So how does the "Guesstimation" Tool work? And how can the data provided be used to help translators with projecting their 2013 workflow? This is best explained by using an example:

• There are a total of 60 language pairs and 5 translation domains to select from, for a total of 300 combination possibilities.
• Let's use the language pair English to Japanese translation, and the domain of marketing. 
• For this combination, the estimation tool projects an increase of 32% in workflow, compared to 2012, which it bases its algorithm upon.
• Let's say a marketing translator for English to Japanese made a total of $43,000, from that specific translation sector alone. 
• To project income increase for this year: 43,000 x .32 = 13,760 total increase in dollars for 2013, for English to Japanese translations in marketing.

• 43,000 + 13,760 = 56,760 total projected income for 2013

Practical Application of Workflow Estimation Tool for Professional Translators

Now, of course most translators do not translate only one domain of translation all year.  Even if marketing translation or legal translation is what a particular translator specializes in, he or she still often takes on general translations or other types.  By estimating the percentage of translations a given translator dedicates to various industries, and using variations of the above equation, it is still possible to use the estimation tool to project workflow and/or income in a given year.  Let's look at a more complex example.

• Let's say a translator receives 60% Russian to English translation projects.
• In 2012, the translator made a total of $60K.  50% of the Russian to English translations were legal translation projects.
• Since 60% of translations are Russian to English, 60% of 60K is 36,000. 
• 50% of the Russian to English translations were for the legal sector.  So, half of 36K is 18,000.
• According to the Tomedes estimation tool, for Russian to English translation in the legal sector, there is a projected 26% increase for 2013.
• So the final equation is: 18,000 x .26 = 4,680 total estimated increase in dollars. 

You can also use averages to figure out other estimates, if translations are divided up between several languages and sectors.

While the above equations are based upon estimated algorithmic figures calculated by our estimation tool, it is a useful guide for professional translators in order to prepare and plan ahead for 2013.  It provides a good idea of what to expect in workflow and/or income, which any translator can use to his or her benefit.