BOSTON--(BUSINESS WIRE)--Atlas Analytics, the leader in macroeconomic forecasting based on satellite data, today announced its predictions ahead of the third quarter 2024 Gross Domestic Product (GDP) release by the Bureau of Economic Analysis (BEA). This prediction anticipates an annualized GDP of 2.7% based on a proprietary Atlas Analytics algorithm known as Remote Orbital Yield (ROY). ROY leverages data from satellite imagery of the build environment correlated with other economic factors to produce its predictions.
Atlas Analytics’ advanced GDP predictions are poised to become a valuable asset to economists and investors who rely on GDP data to guide their decision-making processes. A pivotal benchmark for assessing overall economic health, GDP aims to evaluate growth using the value of goods and services within a geographic area. In the United States, traditional GDP data is released as three iterative estimates by the BEA each quarter, leaving up to three months between advance figures based on incomplete data and the announcement of a final calculation. Atlas Analytics looks to disrupt conventional forecasting with data that considers visual development indicators derived from satellite imaging to accurately preempt GDP estimates.
“While Atlas Analytics is new to the market, our team has been developing the machine learning and artificial intelligence models to construct the ROY algorithm for years,” said Jake Schneider, Founder, Atlas Analytics. “We have consistently predicted GDP figures well in advance of BEA announcements since 2022 with a standard error of 0.7 percentage points, demonstrating the platform’s ability to inform confident investment decision making without the three-month delay typical of GDP iterative releases.”
Platform users follow a three-step approach to using the data generated by Atlas Analytics. Starting with a GDP forecast provided by ROY, investors can then set a price target for specific indices and relate them to real-time trading prices to determine valuation. Finally, investors can take this information into account as they make trades at their own discretion.
Atlas Analytics was founded by economists for economists out of a glaring need for more timely, accurate GDP forecasting. Schneider’s own experience as an economist with tenures at The World Bank, Bain & Company, Alan Greenspan’s consulting firm and, most recently, the City of Boston brought the need for novel ways to approach GDP data to light. The platform’s approach to leveraging data from satellite imagery alongside more traditional economic variables offers economists and investors a unique opportunity to access real-time indicators of economic health.
Interested parties can contact Atlas Analytics to schedule a consultation and platform demo. Plans to open up the platform to individual access are currently underway.
About Atlas Analytics
Atlas Analytics is the leader in macroeconomic forecasting using satellite data of the built environment to predict GDP indicators in real time. Using proprietary algorithms and the latest in machine learning and artificial intelligence, Atlas Analytics unlocks forecasting potential for economists and investors weary of waiting for iterative, fluctuating GDP data from the Bureau of Economic Analysis on a quarterly release schedule. Instead, platform users can assess GDP predictions live and use that information to inform proactive decision making. For more information, visit www.atlasanalytics.info.
