SIBS and ISEG have just established a partnership, within the scope of SIBS Analytics, SIBS' Business Intelligence service, with the aim of analyzing and assessing the real economic and social impact of the COVID-19 pandemic, based on relevant information on consumer behavior in Portugal since the first case appeared. Among other collaboration models, it is planned to measure the effects of the measures implemented and to be implemented by the Government to relaunch the economy, addressing issues such as changes in consumption and investment patterns, digitization of means of payment, the informality of the national economy and the use of information technologies by the Portuguese.
With this collaboration, which will continue on an ongoing basis, ISEG strengthens its research capacity, using data provided by SIBS, aggregated and depersonalized, on electronic and cash payment transactions carried out in Portugal in recent weeks, as well as the history of previous months and years for a more in-depth comparative analysis.
For its part, ISEG contributes scientific, analytical and econometric know-how to this partnership, by creating reports and academic articles with the results of its research on the data provided by SIBS Analytics.
In the current context of COVID-19, academic articles will be produced on the potential impact and evolution of economic indicators and models that characterize the economy in Portugal, depending on the current crisis, as well as the effects of the measures implemented and to be implemented by the government.
On the other hand, in a broader sense, the objective of the two entities is to define a SIBS-ISEG macroeconomic index, and to contribute to the projection of universal economic indicators and models, such as Gross Domestic Consumption, and to support the projection of economic trends and cycles.
"SIBS Analytics, an innovative Business Intelligence service, provides access to more than one billion indicators on consumption in Portugal, allowing a 360º view to support the formulation of concrete and assertive studies, with valid conclusions about the difficult times we are going through and that will help companies and the Government to make structural decisions that protect the entire population and the national economy", emphasizes Madalena Cascais Tomé, CEO of SIBS, adding that "this partnership reinforces SIBS' position as a reference partner for the area of data insights for institutions in Portugal."
"ISEG, with its renowned analytical and econometric know-how, which it puts at the service of society, is no stranger to the current pandemic context and its repercussions in the country. In order to contribute to a better characterization of the state of the economy and to support more informed decision-making, ISEG is partnering with SIBS so that, with new data, it can assess the economic and social impact of this crisis," says Clara Raposo, President of ISEG, who adds: "This partnership will allow ISEG to strengthen its position as a benchmark entity in the area of economic and business research."
With this Business Intelligence service, SIBS statistics are available for academic studies or to support the formulation of corporate business decisions.
