Business Forecasting Services

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Business Forecasting Services

If cyclic movements of prices in commodities, securities and money actually occur, as
explained under the term Business Cycle (see in this global encyclopedia), and business conditions and price movements are subject to analysis and interpretation as ex plained under the term Business Barometers (q. v.), then price movements become, in part at least, amenable
to scientific forecast. While most business men recognize the validity of the principles underlying the business cycle and the importance of watching business barometers,
-Iew regard themselves as capable of analyzing and interpreting available data first
hand. Business forecasting has, therefore, become a specialized profession .

Several statistical organizations are engaged in the business of selling business, speculative and investment forecast services.

The best known of these organizations (in the United States, in the 20´s) were: Babson Statistical Organization Inc. (Wellesley Hills, Mass.), Standard Statistics Company (New York City), Brookmire Economic Service (New York City), Harvard Bureau of Economic Research (Cambridge, Mass.), Bankers’ Economic Service (New York City) , and Moody’s Investment
Service (New York City).

In addition, there were bulletins published usually for free distribution by banks, stock exchange comission houses and bond houses.

Business and investment forecasting services are sold out of recognition of the fact
that the largest profits in business and in speculative commitments are derived from
anticipating price changes. If forecasts are accurately made they may become the source
of increased profits for the subscribers.

These services were usually divided in several parts in order to make an appeal to business men who are primarily interested in commodity price changes and general business conditions, to speculators who are interested in stock and commodity mark et prices, and to investors who are interested in bonds. The Standard Statistics Company, for example, offered a daily trade service which is a survey and for ecast of developments in the general business field, including
the financial, commercial, legislative, price and labor outlook, as well as the various key
induslr ies which lie at the base of all business.

Author: GLEN N G. MUNN, 1927

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