The ChemQuest Group announced the launch of Coatings TraQr (pronounced “tracker”), an interac-tive dashboard and forecasting tool that combines input data relative to key coatings mar-ket consumption, macroeconomic indicators and raw materials now available for subscrip-tion. TraQr will expand to other industry verticals in the near future.
TraQr enables businesses throughout the specialty chemicals value chain to more easily identify, analyze and forecast market trends, to make better informed purchasing, pricing, expansion, cost saving, and development decisions. Initially, Coatings TraQr will be availa-ble for use within the paint and coatings industry, and co-marketed to those users through a partnership with the American Coatings Association (ACA).
ChemQuest publishes a five-year U.S. industry market overview and forecast with ACA and a global iteration with the World Coating Council. ChemQuest developed Coatings TraQr to offer current quantitative data that complements the qualitative and quantita-tive data in the published reports. TraQr is built on Microsoft’s Power BI platform, the industry leader for data analysis and visualization.
In addition to the visualization tools, TraQr 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.
For example, if Commercial Construction Starts drives a business segment, TraQr can per-form a real-time analysis of nearly 100 additional factors and combinations of factors that influence that metric and can be followed through the dashboard as leading indicators.
“TraQr will provide our industry with the information needed to better understand mar-ket drivers, optimize inventory planning, resource allocation, drive product development and grow their business,” said Dan Murad, CEO of The ChemQuest Group. “We are excit-ed to introduce our first iteration, Coatings TraQr, with other industry verticals to follow in the future. We anticipate that TraQr will provide important insight for our clients.”
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