What are the differences between a Market Forecast Workbook, Market Dashboard, and Forecast Report?
All of them are the same concept. Each is a forecast of an industry dataset, such as US Industrial Production, North America Automobile Production, or EU Metalworking Machinery New Orders. The differences lie in the layout of the information. See below for further specifics.
What is included in a Market Forecast Workbook?
- You will receive login credentials to our onDemand platform to view the forecast.
- The forecast will be presented in chart format and in a numerical, 12-quarter table.
- The forecast will be provided for the 12MMT/A, 3MMT/A, and 12/12 Rate-of-Change.
- For more information on this terminology, watch our methodology video.
- Supporting text is included and will cover major economic trends impacting the industry as well as any potential positive or negative threats to the forecast.
- Price is per forecast.
What is included in a Market Dashboard?
This layout is for the client who requires multiple forecasts and wants a clear, concise table with all the outlooks in one place for an easy-to-use roadmap of where their industries are headed.
It is color-coded according to the Phases of the Business Cycle through which each dataset will be moving over the next 12 quarters. This color-coding system is a great visual representation of which industries are areas of opportunity versus risk for the business.
- The forecast is a rolling 12-quarter outlook.
- The forecast is presented for both the 12/12 Rate-of-Change (Annual Growth Rate) and the 3/12 Rate-of-Change (Quarterly Growth Rate).
- There is no text included and no consultation with the forecaster. For those who wish to consult the forecaster to discuss the driving factors of the forecast, EconChats are available for purchase.
- Price is per forecast included in the dashboard.
What is included in a Forecast Report?
This report is for the client who wants to receive both the forecast and supporting text that covers major trends within the forecasted industry.
It also includes several standard pages: our overall US Economic Outlook, a Phase Map for any included forecasts, highlights for key US leading indicators, and a list of Management Objectives™ applicable for each Phase of the Business Cycle.
The forecast provides the year-end values for the 12/12 Rate-of-Change (Annual Growth Rate) for each of the next three years. Industry associations frequently purchase these reports in order to distribute them to their members.
Those who simply purchase this report for their businesses may also send in their own company data so we can calculate their 12/12 Rate-of-Change and add it to the industry forecast’s 12/12 Rate-of-Change chart. This allows for more analysis in the text that accompanies the charts.
Each forecast page includes two charts, the three-year outlook, supporting text analysis, current growth rates of the industry dataset, and the industry's current Phase of the Business Cycle. Charts are included for 12MMT/A (Annual Data Trend) and the 12/12 Rate-of-Change (Annual Growth Rate). The forecast is present on both charts for a visual representation of where the industry is headed over the next three years.
What is the cost structure for a Market Forecast Program?
The pricing is based on frequency of delivery. Please see our pricing sheet here for more information.
What is the process for purchasing a Market Forecast Program?
You will consult with an account executive to determine which layout will best meet your needs and which datasets will be the best to have forecasted.
Once you finalize the above, you will complete a company profile and submit data for our team to review to ensure we are confident in forecasting the data. If the data is approved, we will contract for the work, and you will receive login credentials for the onDemand platform.
It will take approximately four to six weeks for the forecast to be completed and uploaded to your onDemand platform. You will be notified when it is ready to view and download. Please note: Expedited deliveries are available.
Why should I choose ITR Economics for forecasting my business?
There are quite a few unique advantages to working with our firm. We’re accurate, actionable, mobile-friendly, easily accessible, quick to respond, business oriented, friendly, and employ a unique methodology.
While ITR Economics is an economics firm that specializes in forecasting, our economists and services are business oriented – we track and forecast the data, but we also understand that it is the application of this knowledge that is extremely important.
Our firm is the oldest continuously operating, privately held economic forecasting firm in the United States. We were founded in 1948 and have unparalleled forecasting accuracy.
We can say this with confidence because we have a unique methodology that sets us apart from all other forecasting firms in the market.
But our confidence is not enough. We also need your confidence in our abilities, so that you actively use the information we provide in the daily management of your business. To help create this confidence, we are very transparent and readily share our forecast accuracy.
What types of data do you have available to forecast?
Our robust database of 10,000-plus datasets covers major industries such as construction verticals (some even by state), financial markets, commodities, vertical markets within the overall manufacturing industry, wholesale trade of varying goods, imports/exports, foreign exchange rates, global datasets, and national datasets for most countries in Europe, Asia, South America, Central America, and North America. We also have datasets for industry segments within that large range of countries..
What are these calculations (12MMT/A, 12/12, 3/12) you’ve mentioned?
Please view our robust ITR Methodology Page here. It will give you access to an eBook, videos, and blogs describing our methodology.