AI-driven Real Time Market Confidence Index enables qualified decision-making based on the coronavirus’ impact on the economy.
The Coronavirus pandemic has created the largest and most complex crisis in the global economy since the Second World War. Many companies have shut down all or part of their operations, and existing prognoses and plans are rendered void. Lack of qualified decision-making data may deepen the crisis further. Nordic Morning is therefore launching an economic trend indicator together with My Telescope. It is based on AI-driven real time data, shows current developments, and provides a basis for decision making supported by predictive analysis.
The Real Time Market Confidence Index is launched today. Because even in a complex and unpredictable situation, economic development can be predicted much like the way epidemiologists calculate transmission of the virus. The way to do it is by optimizing data collection and creating a fact base in real time, which can then be the basis for qualified discussions in board rooms and management teams.
“Not even in wartime have we seen such a fast and complex impact on the economy as right now. There are patterns, but a completely new level of analysis is required to discern them. Companies have an important role in helping to ease the economic downturn, but they need reliable decision data to act, updated in real time. That is what we have created,” says Anne Årneby, CEO of Nordic Morning Group.
The Real Time Market Confidence Index is based on the same established indicators that the market traditionally looks at: unemployment data, consumption data, GDP, PPP, political initiatives, sentiment data (attitudes about economic development) and behavioral data (behavioral economics). But unlike traditional barometers, big data analysis is done in real time using artificial intelligence. For companies, this means that they can make fast decisions based on where the economy is right now – for example in their own industry or at a specific location – as well as how the economy is expected to develop in the near future.
“When the world changes, we change with it. We have worked that way for 80 years, always with our customers’ needs at the center. Now we’re taking the next steps. Looking into the future by scanning behaviors and then being fast in our development gives us a unique possibility to offer a real estate service that is adapted as the world, and our needs, change,” says Liza Nyberg, CEO of Svensk Fastighetsförmedling.
A major challenge for decision-makers and corporate executives is the lack of updated information. Regular economic forecasts even at this critical moment often rely on historical data that is at least two weeks old, which means that the information is often already irrelevant. The risk, then, is that companies lose momentum and are unable to act on either negative or positive data. With the power of AI, it is possible to produce real time decision data.
“We live in a world where technology has created opportunities to read real time information about our economy. Credit card purchases, e-commerce data and sentiment surveys based on the search behaviors of individuals and organizations provide a clear picture of the development of different industries. We have the real time data and the tool to read it,” says Rodrigo Pozo Graviz, founder of Graviz Labs, which developed My Telescope.
Read more and get the Real Time Market Confidence Index for Sweden, Finland and UK: https://nordicmorninggroup.com/rtmci/
Contact for more information:
Anne Årneby, CEO Nordic Morning Group Ph. +46 70 860 65 86 Mail: firstname.lastname@example.org
Rodrigo Pozo Graviz, CEO Graviz Labs Ph. +46 70 092 40 31 Mail: email@example.com