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Hal Varian, Google’s chief economist, and his colleague Hyunyoung Choi think so. Researchers at Google used the frequency of certain search terms to forecast the sales of homes, cars and other products. Their research showed how the volume of searches for certain products, such as types of car, rose and fell in line with monthly sales. Google keeps extensive records of what is being searched which makes Varian and Choi’s method a far quicker way of gauging purchasing behavior than traditional sales forecasts, which are often made by looking back at purchasing patterns.
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