Data & Analytics
Nowcasting
Also known as:
Real-Time Forecasting
Near-Term Forecasting
Updated: 2/11/2026
Forecasting the current or imminent state using high-frequency real-time data.
Quick Summary
Nowcasting estimates the current state from real-time data – faster than official statistics.
Explanation
Uses alternative data sources (search queries, credit card data, IoT) for forecasts before official statistics.
Marketing Relevance
Enables real-time marketing reactions: campaign spend based on current demand.
Common Pitfalls
Alternative data can be noisy or biased. Correlation ≠ causation.
Origin & History
Term from meteorology (1980s). Google Flu Trends (2008). COVID-19 (2020) drove economic nowcasting.
Comparisons & Differences
Nowcasting vs. Forecasting
Forecasting predicts the future; Nowcasting estimates the current state.