505 Economics
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About 505 Economics
505 Economics in a Nutshell
We specialise in providing comprehensive economic insights at both the local and national level. We blend together experience in alternative datasets (such as high resolution satellite imagery), artificial intelligence, and econometrics. Our team is composed of doctoral and post-doctoral researchers from the London School of Economics.
Our mission is to make academic economics accessible. We’ve made many technological breakthroughs in academia, which do not make its way through to policy makers and the private sector. We’re here to facilitate this process.
We are supported by the European Space Agency, and were one of the first companies in the world to be granted access to cutting edge artificial intelligence technologies such as OpenAI’s GPT-3.
Geo Coverage
Data Offering
Monthly national and sub-national GDP data for UK and EU countries derived from satellite imagery. Produced in partnership with the European Space Agency BIC UK
- Granular - data provided down to NUTS3 level (e.g. London Boroughs)
- Frequent - every month since Jan 2015
- Timely - produced with 1 month lag
- Accurate
Featured in
Use Cases
The dataset can be used by:
- Governments and policy makers - to monitor the performance of local economies, to measure the localised impact of policies, and to get a real-time indication of economic activity.
- Financial services - to get an indication of national-level GDP before official GDP statistics are released
- Engineering companies - to monitor and evaluate the localised impact of infrastructure projects
- Consultancies - to forecast the localised impact of specific projects, to retrospectively monitor and evaluate the localised impact of existing projects
- Economics firms - to create macro forecasts at the national and sub-national level, to assess the impact of policy interventions.
- Academia / Think Tanks - to conduct novel research at the local level. E.g. our dataset can be used to measure the impact of localised COVID-19 lockdowns.
Data Sources & Collection
- High resolution satellite imagery
- Deep Learning (recurrent neural networks)
Key Differentiators
- Frequency: We provide monthly national and sub-national GDP estimates. More frequent than annual official estimates.
- Timeliness: Our data is provided with a 1 month lag. Quicker than the 18 month lag of official sub-national GDP datasets
- Granular: Our data goes down to the NUTS3 level (e.g. Boroughs of London, or Departments of France)
What are you looking for?
Frequently asked questions about 505 Economics
What does 505 Economics do?
We specialise in providing comprehensive economic insights at both the local and national level. We blend together experience in alternative datasets, artificial intelligence, and econometrics. Our team is composed of doctoral and post-doctoral researchers from the London School of Economics.
How much does 505 Economics cost?
The supported pricing models for 505 Economics’ data are One-off purchase, Monthly License, and Yearly License. 505 Economics offers free samples for individual data requirements. Get talking to a member of the 505 Economics team to receive custom pricing options, information about data subscription fees, and quotes for 505 Economics’ data offering tailored to your use case.
What kind of data does 505 Economics have?
Location Data, ESG Data, GIS Data, Economic Data, and 4 others
What data does 505 Economics offer?
Monthly national and sub-national GDP data for UK and EU countries derived from satellite imagery. Produced in partnership with the European Space Agency BIC UK Granular - data provided down to NUTS3 level (e.g. London Boroughs) Frequent - every month since Jan 2015 Timely - produced with 1 month lag Accurate
How does 505 Economics collect data?
High resolution satellite imagery Deep Learning (recurrent neural networks)
What are the best use cases for 505 Economics’ data?
The dataset can be used by: Governments and policy makers - to monitor the performance of local economies, to measure the localised impact of policies, and to get a real-time indication of economic activity. Financial services - to get an indication of national-level GDP before official GDP statistics are released Engineering companies - to monitor and evaluate the localised impact of infrastructure projects Consultancies - to forecast the localised impact of specific projects, to retrospectively monitor and evaluate the localised impact of existing projects Economics firms - to create macro forecasts at the national and sub-national level, to assess the impact of policy interventions. Academia / Think Tanks - to conduct novel research at the local level. E.g. our dataset can be used to measure the impact of localised COVID-19 lockdowns.