New economist-led insights leverage key indicators to provide early clues to coming changes in the economic business cycle
SUNNYVALE, Calif., Sept. 29, 2022 /PRNewswire-PRWeb/ -- Prevedere, a leading provider of global intelligence and technology for enabling advanced predictive planning, announced today the introduction of a new RecoveryWatch Dashboard designed to keep business leaders up-to-date on critical leading signals that provide early insight to projected changes in the economy. Leaders will now be able to access a weekly updated data report and monthly updated executive overview that will signal when the economy has reached a point of recovery or recession and help organizations know what to do as important economic indicators change.
"The key to understanding overall economic cycles is to monitor when the majority of leading indicators are moving in the same direction," said Danielle Marceau, principal economist and the director of analytics at Prevedere. "Staying ahead of 'what-if' scenarios with frequent analysis of the factors that may pull the economy in different directions is critical for executives. These leaders need to build business plans that weather economic downturns while accounting for potential growth opportunities when recovery begins, which can be a daunting task with so many factors at play."
When creating the dashboard, Prevedere's team of economists handpicked the most reliable leading indicators to give business leaders a well-rounded economic breakdown. The dashboard provides at least a quarter of lead time to implement change by visually comparing recent movements to prior recessionary conditions, measuring across a variety of industries.
The RecoveryWatch Dashboard includes a range of features to enable executives to see the data how an economist would see it. Logically organized into four categories: consumer spending, financials and prices, production and construction, and consumer and business sentiments, the dashboard describes why Prevedere's economists chose to monitor each indicator. Countercyclical relationships show how some indicators may fluctuate, signaling negative or positive pressure on the economy or industry.
"With an overheated economy threatened with stagflation, many business leaders are asking if we should expect a recession through the first half of 2023 and when we will begin to see economic reacceleration," said Rich Wagner, CEO and founder at Prevedere. "At Prevedere, we provide leaders with a recession scenario planning solution that provides them with the foresight they need to feel confident moving forward, giving them a chance to take back control, incorporate learnings and strategically plan for the future."
Within Prevedere's predictive planning methodology, its economist team developed three plausible macroeconomic scenarios for the remainder of 2022 and into 2023 that will help guide business leaders and FP&A teams as they develop their plans for the next year.
To view the RecoveryWatch dashboard and subscribe to the weekly insights, visit https://prevedere.com/recoverywatch-leading-indicators-report/.
About Prevedere
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.
Prevedere is trusted by world-leading companies to generate strategic intelligence with planning and management tools that enable better risk mitigation and greater opportunity development. To learn more, connect with Prevedere or visit prevedere.com.
Media Contact
Deej Savage, Alloy on behalf of Prevedere, 800-300-8209, [email protected]
SOURCE Prevedere
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