We help clients make strategic decisions through a deeper understanding of their industry’s leading indicators. To turn data into insights, our models focus on trend analysis and causation. We provide clients with a deep economic understanding of their industry allowing them to quantify changes and the effects they will have.
Modelling
Understanding the key drivers of your industry or region is crucial to making better decisions. NIEIR’s models balance analysis between historical trends and causation.
We maintain a range of in house models and produce a wide variety of custom economic models tailored to suit our clients’ needs. NIEIR models are significantly closer to reality than general equilibrium models and do not assume away mathematically inconvenient aspects of the economy. NIEIR incorporates all historically relevant drivers into its models to ensure that their influence is determined by data and not by assumptions. Although econometric relationships can provide evidence of the direction of causation, the evidence is never conclusive. Our models provide a structure in which the complexities revealed by econometric analysis can be formalized and brought into a logical relationship for forecasting purposes.
In-House Models
NIEIR maintains a range of in-house models for
- forecasting and scenario analysis
- strategic planning
- cost-benefit analysis and investment appraisal
- economic impact assessment
- industry benchmarking (for KPI reporting)
- risk analysis and stress testing
- academic and analytical research
Custom Made Specialized Models
NIEIR builds purpose-specific models from clients own datasets. Model designing and building represents a significant component of the Institute’s modeling work. The models built at the Institute use:
- econometrics and statistical methods
- simulations techniques including micro-simulation
- programming methods
- operational research methods
Forecasting
The information that accompanies predictions is more instrumental to decision makers then the predictions themselves. The factors and assumptions of the forecasts and the balance of risks surrounding the prediction is what really matters to decision makers.
Our forecasts are used to form expectations and reduce some of the uncertainties surrounding the future. All our forecasts are prepared using economic models built to encapsulate relevant past experiences and future expectations. NIEIR prepares economic forecasts by region for any time horizon ranging from months to decades.
