Companies in the B2C realm can be directly affected by the household finance which is a strong LAG indicator in the UK Economy. B2B companies also inevitably feel the effects, but they are more indirect and generally take a longer time to sink in. Both types of companies need to be in tune with household finance data across their target markets in order to plan accordingly for their future.

Household data is collected using surveys on a quarterly or annual basis. This shows data among different demographics and regions, allowing DataEco to correlate this against our Social and Business sets.

This puts changes in demographics and regional wealth into a business perspective for our clients. They can use this valuable data to formulate different strategies based on demographics and economic regions, benefiting their bottom line and strengthening their customer base.

Gross Domestic Product (GDP)

GDP is a metric that shows the value of goods and service produced over a certain period of time. This is a strong indicator of the overall health of the UK economy, pointing to whether or not it is growing or shrinking. Quarterly publications use outputs from a variety of industry sectors to come up with an overall index value that shows the strength of the economy.

DataEco uses GDP data such as Index of Production, Index of Services, Output in the construction industry, and the Retail Sales Index. All of these together paint a solid picture as to the strength of the UK economy, and this picture allows us to further utilise more advanced metrics. We also use the Monthly Business Survey and the Construction Output survey to run forecasts and models that help us to estimate the future of the GDP. Included in this are the Consumer Price Index, Producer Price Index, and Services Producer Price Index.

The estimates are then deflated by a variety of sources including lower-level components of the Consumer Price Index, Producer Price Index and Services Producer Price Index.