Consumer insight dataset can create detailed analytics to forecast spending behaviors, macroeconomic indicators, and retail revenue
Consumer insight dataset can create detailed analytics to forecast spending behaviors, macroeconomic indicators, and retail revenue.
Nomad has partnered with a new data provider which is pushing the boundaries for understanding the direction of the consumer market, predicting its associated economic impact, helping investors generate alpha and marketers to create enhanced targeting models.
Our partners data enables the application of AI/ML for the creation of new analytics to accurately predict future consumer spending plans, forecasting key government economic indicators up to 6 weeks in advance of release, forecast retail channel revenues and better target key consumer segments for growth.
This unique dataset is the most robust set of consumer data available developed from big sample size monthly surveys of over 7500 consumers and representative of the consumer market. It has been curated since 2003 and updated each month. The data is the “retail currency” used by the leading retail trade group and by marketing platforms. There are over 3500 data elements for each consumer respondent covering all aspects of consumer behavior, attitudes, motivations and spending intentions for 20 key retail categories. In aggregate the data provides an historical, present, and future view of consumer market. The data is factual in nature highly organized and easy to use for creating AL/MLmodels.
Hedge funds, investment banks, corporates and marketing platforms have found the data invaluable for understanding competitors, forecasting revenues, predicting future market direction, managing portfolios, macroeconomic forecasting and targeting key consumer segments for better ROI.
The data overcomes the shortcomings of historical datasets which were exposed by the rapid behavioral changes created by Covid 19 pandemic and governmental lockdowns. Data scientists are now able to create models based upon consumers stated future purchase plans rather than past actions. The data is 100% privacy compliant and highly organized which makes it easier and cost effective to analyze.
Collection of the data has been ongoing since 2003 in the USA and, 2008 in the PRC/China where it is collected quarterly.
Why it Matters
The most granular agent for understanding the consumer market is the consumer. Having a representative and accurate set of factual data on the consumer is an essential input for creating accurate predictive analytics.
The data is so robust that it can be used to identify customer segments by categories, retail channels and brands. Beyond consumer insights the data has powered macroeconomic and microeconomic predictive analytics by investment banking firms, hedge funds and corporates. Digital marketing platforms have created highly accurate audience models to drive improved marketing ROI.
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