The Canadian Chamber of Commerce Business Data Lab is is launching the Business Conditions Terminal to help "democratize access to business data and insights." PHOTO by Pexels.
With forecasters expecting Canada’s economy to soon fall into recession, businesses need to stay on top of changing business conditions and trends.
Unfortunately, business data has a paywall problem, according to the Canadian Chamber of Commerce, which says data services can be prohibitively expensive, making them inaccessible for most businesses and teams.
Looking to do something to remedy the situation, the Canadian Chamber of Commerce Business Data Lab (BDL) is launching its Business Conditions Terminal (BCT) to help “democratize access to business data and insights.”
Developed as part of a broader collaboration with Statistics Canada, with financial support from Innovation, Science and Economic Development Canada, the BCT is available at no cost for public use and will enhance the availability and use of Canadian business data. It is unique in the market, bringing together more than 2,200 indicators from 30 different data providers, and is specifically designed to deliver granular, real-time insights to Canadian businesses.
“We’re helping Canadian companies unlock the power of better business data” says Stephen Tapp, Chief Economist at the Canadian Chamber of Commerce. “Most small business owners are too busy running their businesses. They don’t have time to moonlight as forecasters or data scientists. They’re looking for easy to use, easy to understand data tools that quickly give them customized, actionable results for their local region and industry.”
At a time of growing demand for more accessible and affordable business data and insights, the BCT offers expert assessments and ratings of seven critical aspects of Canadian business conditions, including sentiment and outlook, workforce, business activity, business dynamics, financial conditions, transportation and tourism, and international trade.