Case Study: Kronos Predicts U.S. Economic Health with Wolfram Mathematica

Kronos builds a leading US economic indicator with Wolfram using data from 69 retail firms

Kronos, a provider of workforce management software, faced the challenge of developing a new economic indicator to predict the health of the US economy, as traditional supply chain-based metrics had become less reliable. To accomplish this, they partnered with Wolfram and used their product Mathematica to analyze unique data from the US retail labor market.

Using Wolfram's Mathematica, Kronos exclusively implemented the X-12 ARIMA model to analyze time series data, remove seasonality, and visualize results. This solution enabled them to create the Kronos Retail Labor Index, a novel leading indicator of the overall health of the US economy. The efficiency of using a single Wolfram system for algorithm development, analysis, and graphical display was crucial to the project's success and the monthly production of the Index.

Kronos