Bloomfield Forecast captures economic conditions that influence financial flows, corporate earnings, and fiscal or monetary policy decisions. Nowcasting was used for a long time in very short-term weather forecasting exercises before being applied to the field of economics in 2008.

Nowcasting allows monitoring of economic conditions in real time. This modern approach is relevant because one of the key measures of the current level of the global economy, notably the gross domestic product, is available in Côte d'Ivoire only quarterly and annually with a considerable delay in addition to the revisions that it needs. Consequently, economic agents whose activity requires real-time information on the state of the economy are penalized. Bloomfield Forecast is a forecasting tool that fills this gap for the benefit of investors, political authorities, central bankers and any other economic agent, by providing a signal on economic activity in real time.

Bloomfield Forecast allows economic and financial analysts to follow the main publications to detect the first signals useful for their decision-making. The tool promotes good investment decisions by making it easier for decision-makers to anticipate the economic situation. Bloomfield Forecast is based on statistical filtering techniques applied to a dynamic factor model. These techniques are very common in big data analysis because they effectively summarize the information in large data sets through a small number of common factors. Bloomfield Forecast thus makes it possible to read information flows in real time and to assess their effects on current economic conditions.