Daily Archives: December 14, 2015

Staying Ahead of the Data in 2016

.. effective use of information in anticipation of data releases .. The Federal statistical system uses scheduled release dates for wide-ranging statistical data. Anticipation of the implications of the data by users builds ahead of the actual release date. This section reviews major statistical release dates to help stakeholders “stay ahead of the data” and be prepared to make better use of the data. The continuously updated Statistical Release Dates for 2016 table can be a useful reference throughout the year.

Anticipation of Data Releases & Implications of the Data
Each month, stakeholders around the world watch for news about the Jobs Report, the Employment Situation, data developed by the Bureau of Labor Statistics. The Employment Situation is one of many key economic measures used to assess the strength and direction of the U.S. economy.

For the November 2015 Jobs Report, released December 4, 2015, the New York Times December 2nd story reflected “In the United States, most of the focus will be on the November jobs report, to be released Friday. Expectations are high.”

Many, convinced that the November data would be good news, took action in advance of the actual data release. The New York Times December 4th story “The U.S. economy created 211,000 jobs in November … The numbers did not disappoint … U.S. stocks jumped more than 2 percent … Stocks rallied in a sign investors are taking their cue from economic performance …” The Jobs Report is but one of many with monthly implications for planning and decision-making.

Staying Ahead of the Data
Planning in advance of the statistical release dates can often be as important as taking action based on what the numbers actually say. Upon the actual data release, a CEO might ask, “what do these data mean for our company and what might be the impact on us?” Good opportunities might have passed by that time. And, in the face of less positive news, the opportunity to take action might have passed.

Statistical Release Dates for 2016
See the full 2016 calendar. The graphic below shows a partial view of the 2016 data release dates. Items include selected key Federal and other demographic-economic statistics and related geographic data. The list builds on the list of “Principal Federal Economic Indicators” prepared by OMB. That list was developed in part to prevent early access to information that may affect financial and commodity markets and preserve the distinction between the policy-neutral release of data by statistical agencies and their interpretation by policy officials.

– click graphic to view full table.

Each row in the table shows dates for data releases. The table will update throughout 2016 and knits together with the ProximityOne calendar. The “Staying Ahead of the Data” section in the Metropolitan Area Situation & Outlook Reportsreviews upcoming data releases and anticipates the possible effects on that metropolitan area.

Join me in a Data Analytics Lab session to discuss accessing, integrating and using these data with other data that relate to your situation.

About the Author
— Warren Glimpse is former senior Census Bureau statistician responsible for innovative data access and use operations. He is also the former associate director of the U.S. Office of Federal Statistical Policy and Standards for data access and use. He has more than 20 years of experience in the private sector developing data resources and tools for integration and analysis of geographic, demographic, economic and business data. Contact Warren. Join Warren on LinkedIn.