Nowcasting Food Prices in Indonesia Using Social Media Signals

Pulse Lab Jakarta

Project Description

This project explored how Twitter data can be used to ‘nowcast’ or provide real-time food prices. Pulse Lab Jakarta collaborated with Bappenas and WFP on the study, the outcome of which was a statistical model of daily price indicators for four food commodities: beef, chicken, onion and chili. When the modeled prices were compared with official food prices, the figures were closely correlated, demonstrating that near real-time social media signals can function as a proxy for daily food price statistics. This preliminary study paves the way for further research on how social media analytics can complement traditional price data collection by offering a faster, more affordable and efficient way of collecting real-time food prices.

RELATED: Read a blogpost about the project from Pulse Lab Jakarta.

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Below you can find our latest examples of our collaborative research, prototypes and experiments, where we analyse digital data to advance global development, support humanitarian action, and promote peace. For more, go to the research projects page.

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