Adobe introduces the Digital-Economy Project
On March 16, 2016, data analyst at Adobe Digital Index wrote:
Our team is pleased to announce the launch of a new initiative, the Adobe Digital Economy Project. The project’s core goal is to add insight to current economic discussions based on dynamic, responsive data about the digital economy. The Adobe Digital Index, a group of data scientists and researchers within Adobe, publishes research on digital marketing and the economic landscape based on anonymous data aggregated from thousands of websites worldwide. With this latest project, we are focused on shedding light on an increasingly large driver of the economy: online spending.
Exploring the Digital Economy Project
The Digital Economy Project has three key components:
Digital Price Index (DPI): The Digital Price Index looks at inflation through the lens of digital commerce. It is based on massive aggregate and anonymized data sourced through the Adobe Marketing Cloud. Our first iteration, comprised of electronics and grocery products, includes data from 8 billion website visits and 1.4 million products sold online between January 2014 and January 2016. The methodology, discussed in more depth below, implements the gold standard of price indices: the Fisher Ideal Price Index. This implementation is made possible due to the unique capability of Adobe Marketing Cloud to amass huge amounts of data where the quantity of products sold is available as well as sale price.
Digital Housing Index (DHI): The Digital Housing Index looks at trends in the housing market based on online behaviors. The initial DHI is based on an analysis of aggregated data from 2 billion visits to US housing-search websites between December 2014 and December 2015.
Job Seeking Index (JSI): The Job Seeking Index enhances insights in to national employment data based on digital job-search behaviors. The initial JSI is based on analysis of data aggregated by Adobe Marketing Cloud from 1 billion visits to US employment-search websites and top employer-career pages from December 2014 through December 2016. The JSI is a significant index given that Adobe Marketing Cloud currently powers 20 of the top-30 US employers.
The dataset for each index is updated daily and is based on transactions processed and behavior measured through the Adobe Marketing Cloud. Future findings, as well as additional product categories, will be released regularly. All data remains fully anonymous and confidential and is analyzed only in aggregate.
Read the full post here.