From TFA Partner Neil Perkin’s blog “Only Dead Fish”: “An interesting thought as part of the whole agile thing, is about how competitive advantage will increasingly come from not only being able to make an informed prognosis of the future, but an informed prediction of the present. Much market intelligence, and even important indicators such as retail sales data, are published weeks after the events on which they are reporting on have taken place. If we were able to benchmark current activity quicker, make accurate predictions about the present, and react to that intelligence in a more timely way, it could lead to a not insignificant advantage.
When the Bank Of England released its latest Quarterly Bulletin (PDF) last week for example, it included an article describing how it can use search data as an economic indicator, benchmarking areas such as housing, tax, benefits and unemployment. Monitoring current economic activity closely, it said, is an important aspect of policymaking, but official economic statistics are generally… read on.”