Building Predictive Models to Navigate Uncertainty in the COVID Economy
The unprecedented nature of the economy during the last year has proven that many traditional models are outdated, especially those that do not account for external events. It has become clear that businesses must invest in the new approaches to modeling that have proven most effective in forecasting market shifts during times of such uncertainty and market volatility.
The question is, “which method of modeling has proven to be most effective?”
In this episode of Prevedere’s new thought leadership series, Are you prepared?, Chrissy Wissinger is joined by Gavin Thomas, an economist at Prevedere, to discuss the best practices for building, maintaining and leveraging predictive models to support business growth in the COVID economy.
Some of the topics that are discussed in this episode include:
- Why econometric modeling has proven to be the most effective method for building forecasts
- Creating a methodology that scores models for stability, accuracy and predictability
- Best practices for building, testing and maintaining models to ensure continued reliability
Watch this 6-minute interview to learn more about how your organization can properly build predictive models to navigate uncertainty in the COVID economy.
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About Prevedere, Inc.
Prevedere is a predictive analytics software company that delivers insights into future business outcomes based on current economic trends. Our predictive economic intelligence helps executives see what lies ahead for their business and solve for upcoming risks and opportunities. Our SaaS solutions apply the power of machine learning and predictive modeling to more than 2.5 million indicators of global economic and consumer activity. Prevedere customers include Fortune 500 industry leaders in retail, manufacturing, and consumer packaged goods. To learn more, visit www.prevedere.comand follow @Prevedere on Twitter.