Recently Stumbed at Premise after listening to Joe Reisinger, Co-founder and CTO of Premise talk at Quantcon 2015. Premise is a collection of large-scale geospatial, economic and human development data – data which form critical inputs for businesses, investors, policy-makers, regulators and strategists looking to get a timely and accurate read for what’s happening right now on the ground.
Premise leverages Mobile technology to collect such Economic dataset across various countries. People networked with Premise take photos of Microdata points with their native Android app and later that data gets aggregated from various locations and Economic index it built on top of it. And these updates happens in routine every 4 hours or a day which makes those dataset to act as realtime economic dataset.
Premise believes the new frontier of mobile technology is the conduit for the future of business and economics, and the role of alternative economic data as it relates to collection of official government statistics.
How Microdata Can Say a Lot About Macroeconomics
//www.youtube.com/watch?v=MqYjabNZKRk
Access the Economic Indicators collected by Premise Indian Network
Sample Economic Indicator Which tracks Fruit Prices in India Vs Inflation Index
You could be able to see seasonal patterns in the Fruit prices. Typically Fruit Prices are so seasonal in India August, October , December , March are the months we pay peak prices for getting fruits in India.
.@josephreisinger: "Economic data has immediate value. And you always want more of it." #quantcon pic.twitter.com/j7mkW2zDbr
— Premise (@premisedata) March 14, 2015
Premise also pays for the those who collect data with their Android Smartphones. Seriously Looking for a Pocket Money? Try helping out premise and you can get paid as soon as the day after you start sending the required data by completing the task you assigned!
The Government Economic data set is more of delayed and in ground reality its really tough to capture such dataset without leveraging technology like what premise does. Seriously such realtime economic indicators will add lot more value to businesses, investors, policy-makers, regulators and strategists.
Related Readings and Observations
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