Goldman taps alt data for economic forecasts during pandemic

Economists at the bank leveraged a combination of public and third-party data to make conclusions about the future during uncertain times.

Alternative data

Like ski resorts or beach towns, the economies that surround large college campuses are highly reliant on their seasonal clientele. When Covid-19 struck in 2020, and colleges across the US ordered all or at least some of their students to stay inside—or even to return home—the bars, coffee shops, and retailers that were used to catering to hordes of students suffered.

For economists at Goldman Sachs, whose job it is to make economic predictions, the plight of these college-town businesses

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