Canadian Chamber of Commerce has a new tool to ‘democratize data’ - and it’s pretty good
Canadian Chamber of Commerce chief economist Stephen Tapp is on a mission to, as he puts it, “democratize data” in this country.Last month, the chamber unveiled what it calls the– a one-stop-shopping centre for Canadian economic statistics most pertinent to Canadian business. The hub contains more than 2,200 statistical series, drawn from 30 data providers, automatically updated every morning.
In April, 2020, the chamber started working with Statistics Canada to tap into the chamber’s membership for quick, high-frequency business surveys. The result was Statscan’s Canadian Survey on Business Conditions, which the government statistical agency now publishes every quarter. The chamber’s new tool bundles various statistical indicators together into topical hubs such as “workforce,” “business activity,” “financial conditions,” “international trade,” and “sentiment and outlook,” among others. Interactive graphics allow users to quickly see visual comparisons, adjust time frames and drill down by industry and/or region.
Having taken the Business Conditions Terminal for a short test drive, I will say that there were a few things I don’t love. It could use some improved labelling; I’m often not sure exactly what I’m looking at, what it represents and the source of the data in front of me. It would also be nice to be able to easily extract data in graphs into a spreadsheet. Some functions are not as intuitive as I would like.
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