It is no surprise that your company’s performance is influenced by external global forces. Changes in oil prices, unexpected droughts, or changing consumer spending can alter a product’s demand, availability, or production costs. For decades, business leaders have believed that such global data cannot be predicted accurately or with enough lead time to make meaningful plans. We at Prevedere know otherwise.
Understand how the world impacts your business
Global data including economic changes can be predicted with a high degree of accuracy and with lead times as far out as 24 months. While every company is uniquely impacted by external factors, below are macro-economic indicators that impact nearly every industry in a cyclical manner.
What exactly is global data?
Prevedere has developed proprietary systems, hundreds of APIs that connect to thousands of global data sources that collect, scrub, validate, and organize millions of data sets. These updates occur daily so you can be sure you have the latest information. But what kind of data do we collect? Here is a brief list.
- Any data that affects global, national, regional, state/province or city economy
- Data sources include the Federal Reserve bank, US Census Bureau, US Federal Reserve, and more.
- Example data sets are: every stock ticker in the NASDAQ for the past 20 years, average unemployment for Phoenix, AZ, the price of sweet crude, Consumer Price Index
- Any data sets related to weather in the US.
- Data sources include NOAA, Quality Controlled Local Climatological Data (NCDC).
- Example data sets are: average temp, average min/max temp, average wind speed, total monthly precipitation, heating degree days, cooling degree days
- Information on the population and consumer behavior.
- Data sources include the US Census Bureau, Bureau of Economic Analysis, Google Trends, Twitter.
- Example data sets are: Number of domestic cars purchased, memberships to health clubs, positive sentiment tweets on the Cleveland Browns, search requests for the term “Apple”.
- Data related to countries other than the US.
- Data sources include the CEIC, Eurostat, ONUK.
- Example data sets are: China’s import/export growth rate, France’s yearly building permits, India’s industrial production, employment rate in London