lThe place to start is which data to track and what does it tell you. We can parse the list into 3 general categories - Leading, Real-Time, and Trailing Indicators.
The Leading Indicators are used for predictions. It forecasts what will happen in the Real-Time. Inother words if things don't change what can you predict will happen.
Real-Time Indicators are like a weather report. What is the temperature, humidty, wind direction, cloud cover, etc. It is nothing more than reporting on the current situation.
Trailing Indicators are things that occur because of the real-time weather report but happen much later because of the feedback lag. The lag are those items that take time to develop and and happen after the fact.
EPISODE 5: Leading Economic Indicators
EPISODE 6: Real-Time (Coincident) Indicators
EPISODE 7: Trailing (Lagging) Indicators
EPISODE 8: Taking the Economys Pulse
Next Show S10.3: Founder Interview with John Larson of Coach Accountable
How to apply today's show to your business:
new choice for BUSINESS SEARCH