A LEADING GLOBAL PAYMENTS AND TECHNOLOGY COMPANY
Analysts were able to find and extract data in one-fourth of the time.
BUSINESS ISSUE
Our client's department, which uses the CEIC Data platform, was formed in 2020 to analyse macro-trends through the lens of a consumer. With the team initially using multiple databases in each region, they lacked a single consistent platform for users globally that they could rely on for macro-economic data.
They also lacked comprehensive data on Asian countries which restricted them from targeting internal and external clients. Since the client publishes reports, they wanted data from official sources such as national statistics agencies, IMF, World Bank, etc. which are already verified and run through multiple quality checks.
The credibility of data was important as their clients refer to their in-house reports and insights for making critical business decisions. Specifically, in Asia, our client was unable to track newly published data sets and release schedules as they were over-reliant on public sources. Lack of access to data through API and Python meant that extracting data to generate reports was not possible, which created delays and increased the risk of duplication errors.
SOLUTION
The CEIC Data platform would be able to fulfil the client's needs with the following aspects:
- Efficiency: Reduced time and effort to look for data in public sources globally.
- Reduced Cost: Having a one-stop solution for all data requirements globally, instead of subscribing to multiple databases in different regions.
- Credibility: The client publishes reports based on the data, hence disclosing data sources with every dataset helps them reduce significant risk
- Automation: Providing the ability to extract data through API or Python from internal models helped the client to reduce substantial time and duplication errors.
PROBLEM SOLVING
The client requested access to the CEIC Global Database with premium access for Asian countries to track and retrieve macro-data on a country, and city-specific level. Highlighting the official source for each dataset on our CEIC platform gave the client confidence to use our data in their reports.
Setting up automated alerts and following up on a data release calendar enabled the team to track newly released data. Our API solution also helped automate data delivery by integrating with their internal models. Global access to all the users helped share insights internally in a consistent and timely manner.
THE OUTCOME
The client saw a clear way to automate their data through one platform, ultimately saving them resources. Our platform provided credibility, authenticity and flexibility to add more users. The efficiency was also improved, with the client's analysts able to find and extract data in one-fourth of the time required previously. This, in turn, enabled them to take on more projects at the same time. The client was also now saving more per user with access for multiple users globally. The CEIC Data platform also presented the capability to extract data using internal models, something that was not achievable for the analysts previously.
OUR SOLUTIONS
CEIC GLOBAL
DATABASE
Exclusive access to unparalleled coverage of over 213 economies around the globe.
APIs and Custom
Solutions
Access CEIC’s economic, industry and sector data through the platform that best serves your data and analytical needs: APIs, feeds, or third-party econometric platforms.