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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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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.
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