Private Equity Funcast

Real-Time Inflation Tracking and Forecasting: A Deep Dive into Open Brand’s Proprietary Consumer Price Index

Apr 1, 2025

Greg Munves, CEO of OpenBrand, and Ralph McLaughlin, Chief Economist, dive deep into real-time inflation tracking methods. They unveil their proprietary Consumer Price Index for Durable and Personal Goods, boasting remarkable accuracy. The duo discusses how this index helps manufacturers and retailers optimize pricing strategies in a volatile market. Their scenario-based inflation forecasts empower investors and policymakers with tailored insights. They also shed light on complex discount dynamics and innovative methodologies that are reshaping how we understand consumer pricing.

48:04

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Episode guests

Ralph McLaughlin

Greg Munves

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Episode notes

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Quick takeaways

OpenBrand’s real-time Consumer Price Index offers a more timely, accurate alternative to traditional inflation measures, validated with a low mean absolute percentage error.

The company's scenario-based forecasting model allows retailers and investors to customize predictions, enhancing financial strategies in a rapidly evolving economic landscape.

Deep dives

Overview of OpenBrand's Data Strategy

OpenBrand focuses on leveraging massive datasets to provide accurate insights into real-time pricing trends. By collecting pricing information on approximately 200,000 products daily, the company aims to offer a more timely alternative to traditional inflation measures like the Bureau of Labor Statistics (BLS) Consumer Price Index (CPI). Their proprietary Consumer Price Index for durable and personal goods is designed to accurately reflect market price changes, allowing users to make informed decisions faster than the BLS can report. This approach addresses concerns about the slow and infrequent nature of government data collection methods, positioning OpenBrand as a leader in delivering real-time economic insights.

Intro

2min

Revolutionizing Price Tracking with Open Brand's CPI

18min

Exploring Discount Dynamics in Consumer Pricing

2min

Pricing Strategies in an Inflationary Market

11min

Forecasting the Consumer Price Index

14min

Expanding the Scope of Consumer Price Index Categories

2min

In this episode of the Private Equity Funcast, host Ryan Milligan speaks with OpenBrand CEO Greg Munves and Chief Economist Ralph McLaughlin about their innovative approach to tracking inflation through the OpenBrand Consumer Price Index for Durable and Personal Goods (CPI-DPG). The CPI-DPG is updated weekly, providing a third independent data point for measuring inflation. Its accuracy has been validated with a mean absolute percentage error (MAPE) as low as 1.6% in specific categories. Additionally, OpenBrand offers scenario-based inflation forecasts, enabling companies and investors to tailor predictions to their expectations and market views.

Munves and McLaughlin also outline practical use cases:

• Manufacturers and retailers optimizing their pricing and promotional strategies. • Investors seeking early insights on market inflation trends to refine financial models. • Policymakers evaluating the effects of economic policies.

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Private Equity Funcast

Real-Time Inflation Tracking and Forecasting: A Deep Dive into Open Brand’s Proprietary Consumer Price Index

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Overview of OpenBrand's Data Strategy

Innovative Index Structure and Methodology

Forecasting Capabilities and Use Cases

Future Developments and Market Impact

Remember Everything You Learn from Podcasts