The American Coatings Association (ACA) is pleased to share that Coatings TraQrTM (pronounced “tracker”), an interactive dashboard and forecasting tool developed by The ChemQuest Group combining input data relative to key coatings market consumption, macroeconomic indicators, and raw materials, is debuting new enhancements. TraQrTM 2.0 augments the original iteration’s U.S. focus and now provides access to a full suite of global economic indicators. The updated tool features approximately 2,000 global indicators relevant to the coatings industry, with insight that shows relationships within seven economic categories and 14 coatings end-use applications.
TraQrTM 2.0 allows users to target individual countries and major regions to unlock and evaluate key trends and drivers all around the world. Moreover, global coatings market data relevant to three market segments — Architectural, OEM, Specialty — and 14 applications has been extended to a running five-year forecast and includes a historical look back to 2013. In addition, market data is now available in 10 currencies: AUD, BRL, CAD, CHF, CNY, EUR, GBP, JPY, MXN, and USD. Coatings TraQr™ 2.0 also offers clear visibility when coatings market data is updated, with visual indicators built into the tool to alert users when changes have been made to underlying data.
Overall, the dynamic TraQrTM 2.0 built on Microsoft’s Power BI platform — the industry leader for data analysis and visualization — enables businesses throughout the coatings and specialty chemicals value chain to identify, analyze, and forecast market trends, and to make better informed purchasing, pricing, expansion, cost saving, and development decisions more easily.
ACA has partnered with ChemQuest to make this subscription-based resource available to its membership with eight hours of additional support to suit their specific needs — be it personalized training, report customization, or platform integration.
Beyond visualization tools, TraQrTM leverages Power BI’s “key influencers,” using machine learning and AI (artificial intelligence) algorithms to quickly analyze data and rank factors based on their level of impact. TraQrTM‘s ability to model and integrate combinations of factors that drive revenue and profit growth, including macroeconomic indicators, industry consumption data, and raw materials pricing data, against an enterprise’s sales data to analyze its business-cycle phases, are what make it the first resource of its kind for the specialty chemicals industry.
ACA will be hosting a free TraQrTM 2.0 webinar on April 27, from 1:00 – 2:00 pm (EDT), in concert with ChemQuest. Register for the webinar here!