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Economic Forecast Paper

Autor:   •  February 2, 2013  •  Essay  •  463 Words (2 Pages)  •  1,120 Views

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The U.S. Department of Commerce was also created by the US Department of Commerce and gives access to economic information regarding national, international, regional, industry, and integrated accounts.

One resource available for use with economic forecast data is through a company known as

IHS Global Insight Inc, which is a research firm who provides economic and financial data regarding numerous countries and industries throughout the world. This resource is valuable and useful because it provides updated information regarding markets across 200 countries around the world, not only in one specific country. Acquiring this information would provide more of an overlook of the different factors and current economic conditions of other places in the world that may have a direct effect on our country's market future. The risks and possible marketing possibilities are also reviewed and monitored for each of the countries. The resource also provides for an overview of economic forecast data strictly for the United States as well. All of the information provided would allow a thorough understanding of various factors which, may have a significant impact on the market and will allow through proper analysis a more accurate economic forecast.

Qualitative Factors

Qualitative factors focus more on the future and not the use historical data to analyze anything. Qualitative factors are used to forecast what will happen in the future. With IHS Global Insight Inc, qualitative data can be gathered about marking possibilities. Companies will be able to forecast possible outcomes for their own marketing strategies. The risks also can be forecasted to see if the marketing will be worth it. Different variables can also be predicted to see which one would work best.

Quantitative Factors

Quantitative methods are separated

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