Alliance DataCast | Must Read PPAI Media: What is the significance of the new partnership between PPAI and ITR Economics? Alok Bhat: In our industry, staying proactive and ahead of the curve means deeply understanding market trends and economic conditions. We recognized that traditional methods of account planning, budgeting, demand forecasting and strategic data analysis often rely heavily on personal perceptions and predictions. Given the current economic fluctuations, supply chain uncertainties and the upcoming elections, we saw a critical need for robust tools that provide deep analytical insights. Our search led us to ITR Economics, whose proven track record made it the perfect partner. PPAI Media: What are some of the key challenges PPAI members face that Alliance DataCast aims to address? Bhat: In our daily operations, we all tackle crucial tasks like account planning, budgeting, demand forecasting and strategic data analysis. Traditionally, these processes have been guided by our own perceptions and predictions. However, there’s always been a desire for more concrete data to back up our decisions. Alliance DataCast addresses these challenges by offering real-time data visualization, customized dashboards and access to thousands of economic and industry-specific indicators. This comprehensive tool helps our members make informed, data-driven decisions. PPAI Media: What sets ITR Economics apart from other economic forecasting firms? Bhat: ITR Economics stands out for several reasons. Firstly, it has been a pillar in economic research and forecasting since 1948, demonstrating its credibility and expertise. Secondly, it boasts an exceptional forecast accuracy rate of 94.7%, even during challenging times like the COVID-19 pandemic. Its predictions are free from Navigating Alliance DataCast PPAI’s Professional-tier members can access the Alliance DataCast platform and create an account using the firm’s unique six-digit PPAI member ID. Once logged in, each company’s two-year forecast can be unlocked in just four steps: S T E P S T E P S T E P S T E P Download The Data Template After logging in, download the data template from the Alliance DataCast interface. This template provides a structured format for your company’s data, ensuring compatibility with the tool. Upload Your Data Use the “Upload New Data” option to import your company’s data into Alliance DataCast. Run The Analysis Once the data is uploaded, select “Run Analysis” to process and analyze the data. View The Findings Review the findings and explore the insights provided by the analysis. davooda / Shutterstock.com PPAI • JULY 2024 • 31
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