DURHAM, N.H.--(BUSINESS WIRE)--Prosper Insights & Analytics™ and e−forecasting.com today launched a set of New Consumer Confidence (NCC) predictive analytics. NCC spawns from Prosper Insights & Analytics’ monthly consumer sentiment survey, which is the largest in scope and size in the US by calibrating information related to consumers' confidence on the economy. e−forecasting.com’s unique econometric models use this data to accurately predict the performance of the US economy more than six months in advance.
NCC, the headline consumer confidence measure, expressed in growth rates and indexed to equal 100 when growth is nil, decreased 0.1 percent points in October to a reading of 109.9, after falling (-0.1 percent points) in September.
“The various NCC indices can be of great value to every business sector. Retailers and brands need an accurate, advanced notice on the economy for business planning,” said Gary Drenik, CEO, Prosper Insights & Analytics. “Those in the manufacture or sale of durable goods can benefit from a greater understanding of consumer purchase intentions over the next six months for autos, appliances, electronics, and home buying.”
“Financial service firms can embed the analytics in their models for an enhanced view of the economy and even detailed subsets, such as gender, age, or geographic regions,” said Drenik.
Looking at consumers' buying intentions over the next six months, an important highlight in October is a solid reading in the consumer predictive analytic which measures consumer plans to buy cars. “In October, the consumer intentions index for purchasing cars is 14% higher than last October,” said Evangelos Otto Simos, Professor at the University of New Hampshire and Predictive Analytics Database Editor for e-forecasting.com.
To view a complimentary example of the NCC indices in an InsightCenter, click here.
About e-forecasting.com
e−forecasting.com, an international economic research and consulting firm with over 15 years experience forecasting markets throughout the world, offers predictive analytics and forecasts of the economic environment using proprietary, real-time economic indicators to produce customized solutions for what’s next. e−forecasting.com collaborates with global partners and data-providing organizations to provide timely predictive intelligence to strengthen its clients’ competitive advantage.
About Prosper Insights & Analytics™
Prosper Insights & Analytics is a global leader in “consumer intent” data serving the financial services, marketing technology, and retail industries. We provide global authoritative market information on US and China consumers via curated insights and analytics. By integrating a variety of data including economic, behavioral and attitudinal data, Prosper helps companies accurately predict consumers’ future behavior to help identify market behaviors, optimize marketing efforts, and improve the effectiveness of affiliate, mobile, email, print, and social-media demand generation campaigns. www.ProsperInsights.com
