Business intelligence from Antilles Economics
It seems to me that marketers love focus groups. In almost every discussion I’ve had on solving a market research problem, marketers have suggested the possibility of focus groups. Maybe they’re attractive because they are relatively inexpensive compared to other research methods, can be organised quickly and are deceptively easy to conduct. And you can’t […]
A map of customers on a real-world map, created from data, reveals things as they are and takes some of the guess work out of reaching customers. Industries from healthcare to retail to finance to utilities are using location information about their customers and assets to drive superior customer experience, improve process efficiency and lower
Why forecast? Forecasting, in its most basic form, is the practice of making predictions about future values of a variable, outcome and/or decision. The question is whether forecasting is necessary, and why. The answer to the first is a resounding yes, mainly due to the need for businesses to plan ahead and anticipate various events. For
From time to time, we are asked for details about the research methods we use when uncovering insights. This is a tough question since we use so many, and the method ultimately used in a project depends on the data and the topic being investigated. Generally, we use both primary and secondary data collection methods,
Aim of the Project The financial system is one of the most important parts of an economy, governing all movements of capital between agents. It also provides useful indicators of the health of an economy and various groups such as government entities, private companies and individuals. Many observers of any economy will therefore pay close
Modelling the Stability of the Barbadian Financial System Read More »
Today I received a phone call from a research agency inviting me to participate in a customer satisfaction survey for a financial institution. Since I’ve been on the other end of those calls, I tend to be very cooperative; after all, they usually only take a couple of minutes. After the telephone survey was completed,
At Antilles Economics we often encounter data limitations both when doing work for clients as well as when conducting our own independent analysis. Not all of these limitations are within our power to fix. But some are. Here’s a selection of common limitations and how we’ve fixed them. There are times when a particular variable is
Data Limitations – What to Do When the Data You Need Isn’t There Read More »
Aim of the Project In early 2011, the Government of Barbados introduced a dispensing fee for prescriptions filled at private pharmacies. This fee, the equivalent of 30% of the cost of the medicine, was expected to raise US$6 million for the Government and reduce the budget of the Barbados Drug Service by US$8.7 million. The
Impact of Legislative Change on Demand for Medicines in Barbados Read More »
I believe that often to solve a problem we need new insights. But what are insights? I’ve looked up this word in a number of different sources and this is what I came up with: Insights are the hidden nature of things; the cause and effect relationship that is not obvious to the naked eye.
Nowcasting has become widely popular in economics. In its most basic form, nowcasting can be summarised as ‘predicting the present and sometimes recent past’. At first this may seem a bit strange. Why would economists want to forecast the present, or even the past? Can you even forecast the past? Economists ‘nowcast’ because of the
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