Baidu (BIDU) In The Business Of Compiling Chinese Indexes
Zacks Investment Research | Jul 20, 2016 10:21PM ET
China’s biggest search engine Baidu, Inc. (NASDAQ:BIDU) has reportedly rolled out its first search interest based indexes tracking the movement of some economic indicators of China.
According to Bloomberg news on Wednesday, the indexes tracked down unemployment rate and forecast Apple’s second quarter 2016 sales (a demonstration of accuracy).
Baidu’s search technology is taking into account user positions, location requests and Wi-Fi hotspot logins to track down consumer behavior and extract economic trends.
The company stated that it will release consumer and employment indexes from this month. More granular level data will be rolled out from next month including industry and company specific data, useful mainly to hedge funds, managers and investors. Charges will be per the volume of data requested.
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