Premise Data wants to revitalize economic data, and Android plays a big role

Gigaom

Has it ever struck you as odd that we live in an increasingly global, increasingly digital society, but we have to wait weeks or months for official macroeconomic data on factors like inflation and the cost of consumer goods? It struck David Soloff as odd, and he thinks his San Francisco-based startup called Premise Data — which officially launched on Monday with backing from Google Ventures, Andreessen Horowitz and Harrison Metal — is the solution.

The big-picture problem, according to Soloff, is that the economic indicators many investors, business leaders and decision makers rely on are just too outdated by the time they’re released. People “lurch to the number,” but the world has often moved since it was calculated and they won’t know it until the next report comes out, he explained.

“As these things speed up,” Soloff added, “the indicators bear less and less resemblance to what people experience…

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