Thursday, September 3, 2009

Google Finance Launches Economic Indicator Prediction Tool

Earlier today, Google (NASDAQ:GOOG) released a new tool on their Google Finance platform called Google Domestic Trends. The idea behind the platform is to use a bucket of queries to serve as a proxy for various economic indicators such as unemployment, air travel, credit & lending, etc.

It's reassuring to see that Google is moving toward this direction in moving toward sharing their data beyond its value to advertisers and the CDC to include your average, everyday investor.

It was also very interesting to see a (relatively) main stream take on the concept of using search data for investment recommendations in today's Tech Crunch. There is still a long way to go with using internet data strategies for retail investors; we are still just at the beginning of a new era.

Disclaimer: Author owns shares in GOOG.

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