Now-Cast Stimulates 'Robo-Economics': Lays down Real-Time Data Prediction Platform
NEW YORK, NY: There is always a constant urge among the investors to remaining updated with the economic changes, so as to utilize the data to trade economics signals. Industry Academic takes this trend forward, with the launch of Now-Cast, a fully automated economic prediction platform that uses machine intelligence to scan the web and social media data for real time events across the world and calculate its impact on the global and local economies.
The proprietary, patent pending technology combines Big Data, machine learning and sophisticated econometrics in a program that generates live minute by minute estimates of key economic indicators such as inflation, unemployment, and GDP.
The version 2.0 analyzes Big Data to instantaneously calculate the economic impact of geopolitical events, natural disasters, acts of terrorism, strikes, droughts, financial markets, corporate & consumer activity, trends and social phenomena.
The system quantifies the digital footprints of human behavior by analyzing billions of data points of live web activity to estimate economic conditions across the globe in real-time, weeks and months ahead of government data reporting.
“This is a game-changer because everything else so far has been in this backward looking rear-view mirror type of world with government data that tells you today what happened one or two months ago," says Dr. Giselle Guzman, Founder and Visionary, Now-Cast.
The product is targeted to boost the economic insights and future planning of investors, traders, and hedge funds and will also be valuable to corporations, realtors, purchasing managers, strategic planners, and CEOs.
Now-Cast also released arrays of product suit that include Nowcast LiveWire Minute-by-Minute Streaming Indicators of Personal Income and Outlays, as well as the Consumer Price Index (CPI), Personal Consumption Expenditures Deflator (PCE), and Producer Price Index (PPI) which shows the evolution of US inflation, Future-Cast longer-term economic predictions, US Economapper and Past-Cast historical economic data. It further provides a data visualization tool for users to view the current as well as future condition of the economy on a state-by-state basis that also gives monthly economy highlights.