By providing an additional layer of understanding to the 'what-if' scenarios with more frequent, accessible analysis of the factors that may pull the economy in different directions, executives can strategically plan and forecast through economic change.
SUNNYVALE, Calif. (PRWEB) December 01, 2022
Prevedere, a leading provider of global intelligence and technology for enabling advanced predictive planning, today announced updates to its RecoveryWatch series to further improve how business leaders can spot early indicators of economic change. The new Leading Economic Indicators Dashboard provides a monthly in-depth, economist-led data report on the latest cyclical drivers to signal where we are in the business cycle and when we will reach a point of recession and recovery.
The dashboard is an enriched snapshot of Prevedere’s ongoing tracking - a capability typically utilized by businesses to track individual business data, industry trends, economic changes, and other external factors for business analysis and forecasting.
"The updates to the Leading Economic Indicators Dashboard are designed to help reduce the margin for error when it comes to strategic planning in a volatile economy, which is essential for catching market blind spots,” said Danielle Marceau, a principal economist and the director of analytics at Prevedere. “By providing an additional layer of understanding to the 'what-if' scenarios with more frequent, accessible analysis of the factors that may pull the economy in different directions, executives can strategically plan and forecast through economic change.”
The Leading Economic Indicators Dashboard visually compares recent movements to prior recessionary conditions across various industries to provide at least a quarter of lead time to help business leaders implement changes for intelligent business forecasting. Every economic indicator in the dashboard was chosen by Prevedere’s team of economists and is organized into four categories: consumer spending, financials and prices, production and construction, and consumer and business sentiments. The latest improvements to the dashboard continue to showcase Prevedere’s commitment to industry-leading business forecasting capabilities and provide new visibility into the impact of performance optimizations.
“More than 80% of our leading economic indicators weakened further this past month,” said Marceau. “Suggesting that a recession is highly probable next year and with little chance of economic reacceleration before at least late 2023.”
The updates to Prevedere’s Leading Economic Indicators Dashboard will help enable leaders to build business plans with more confidence by providing insights on potential points of downturn and growth opportunities that are imperative for balancing risk in future strategy.
"In an increasingly tightened economy, many business leaders are heading into 2023 with little clarity to provide stakeholders and employees on how to navigate the uncertainty," said Rich Wagner, CEO and founder at Prevedere. “It's our mission to be a bright spot for business leaders struggling to plan for the future by allowing them the foresight needed to feel confident and take back control through impactful, data-driven insights.”
To learn more about Prevedere’s Leading Economic Indicators Report and download the dashboard, visit https://prevedere.com/recoverywatch-leading-indicators-report-new/
Prevedere is the world’s leading provider of global data and technology for Advanced Predictive Planning.
The Prevedere Advanced Predictive Planning platform is a patented market-leading technology for identifying relevant external factors and creating forward-looking econometric models. With millions of model-ready data sets from thousands of external sources, the Prevedere Global Intelligence Cloud augments internal data to drive Advanced Predictive Planning.
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