TraQr™ 2.0 provides expanded capabilities in support of data-driven decision making

30 March 2023

The ChemQuest Group, a global consulting firm focused on tailored business strategy and optimisation, technology acceleration, market intelligence and M&A advisory services for the speciality materials industry, has expanded the capabilities of its Coatings TraQr™ (pronounced “tracker”) interactive dashboard and forecasting tool. Coatings TraQr™ combines input data relative to key market consumption, macroeconomic indicators and raw materials to aid subscribers in their holistic business strategy and planning.

Coatings TraQr™ 2.0 augments the original iteration’s US focus and now provides access to a full suite of global economic indicators. The updated tool features approximately 2,000 global indicators relevant to the coatings industry, with insight that shows relationships within seven economic categories and 14 coatings end-use applications. What’s more, subscribers can target individual countries and major regions to discover and evaluate key trends and drivers all around the world.

Users will benefit from Coatings TraQr™ 2.0’s six-month global economic indicator statistical forecasting capabilities, which provide forward visibility to help optimise data-driven decision-making processes. The same six-month statistical forecasting also provides an expanded view of raw material pricing, which had been static to the previous month.

Global coatings market data relevant to three market segments (Architectural, OEM, Speciality) and 14 applications has been extended to a running five-year forecast and includes a historical look back to 2013. In addition, market data is now available in 10 currencies: AUD, BRL, CAD, CHF, CNY, EUR, GBP, JPY, MXN, and USD. Coatings TraQr™ 2.0 also offers clear visibility when coatings market data is updated, with visual indicators built into the tool to alert users when changes have been made to underlying data.

First introduced in 2022 and developed in co-operation with the American Coatings Association (ACA), Coatings TraQr™ is built on Power BI, the industry leader for data analysis and visualisation. In addition to visualisation tools, TraQr™ leverages Power BI’s “key influencers” to quickly analyse data and rank factors based on their level of impact. Subscribing ACA members are eligible to receive eight hours of additional support to suit their specific needs (e.g., personalised training, report customisation, platform integration).

“Our first iteration of Coatings TraQr™ was met with great enthusiasm by industry stakeholders. In working with our early subscribers, we sought feedback on how this unique tool could be more useful to their organisations. Expanded insight into global market and economic data was requested, along with deeper forecast modeling,” said Daniel Murad, CEO of ChemQuest. “We are excited to share Coatings TraQr™ 2.0 as a result of these conversations and look forward to inspiring new subscribers. Coatings TraQr™ complements our ongoing work in market research and strategy development, where we uncover trends, drivers and unmet needs. We anticipate expanding the TraQr™ platform to other industries within the next 12 months.”

Coatings TraQr™ enables businesses to identify, analyse and forecast market trends more easily. The user-friendly and customisable tool supports data-driven decision making throughout purchasing, pricing, expansion, cost saving and development activities.

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