05.05.2020.
As the world struggles to achieve the #SDG1: No Poverty, there has to be someone who tracks who are we trying to achieve this goal for. Our partner of the week, World Data Lab does exactly that. Kristofer Hamel, Chief Operating Officer, told us more about his team.
What Is World Data Lab?
"The World Data Lab (WDL) was founded by Wolfgang Fengler, Lead Economist at The World Bank, and Homi Kharas, the Interim Vice-President and Director of Global Economy and Development at the Brookings Institution. They were former colleagues at The World Bank who wanted to expand beyond the boundaries of large institutions and do something new with data. They wanted to predict and measure data better than its ever been done before.
World Data Lab has evolved into a social enterprise that helps multilateral organizations, private companies, governments, and nonprofits make data-driven decisions. WDL uses state-of-the-art data science to model and forecast income and demographic dynamics at a granular level, worldwide. They build web tools so clients can visualize and unlock insights hidden within data. They create custom data models and algorithms to assist organizations in answering strategic questions including which markets to penetrate, what groups to target.
The co-founders' first goal was to show how data could be personable and actionable for everyone. They first developed a website that was more of a pet-project called population.io. This platform visualizes a data model that predicts individual life expectancy. What started as a pet-project, quickly developed into an internet sensation.
The team leveraged this success to build their flagship tool, The World Poverty Clock. This tool enables international development stakeholders and the general public to explore 10-year forecasts on poverty for every country in the world. The key mission is to apply data to help measure and achieve these Sustainable Development Goal 1 (SDG1): Eradicate Poverty. The team continues to develop web tools that measure other SDG’s including The Hunger Clock (debuting 2021)."
Is the World Poverty Clock aligned with the current situation caused by the COVID-19 pandemic?
"The impact of COVID-19 and its effects on our social and economic systems are yet to be determined. As data comes in, we update our numbers to provide the world with actionable data on poverty and the global middle class so that organizations and decisions-makers can plan for a changing world with accuracy and confidence. Here is where you can follow the COVID-19 related data: https://www.worlddata.io/covid-19. "
World Data Lab also develops web tools and data models to support the private sector in finding new and emerging markets. The premier private sector webtool is called MarketPro with clients including L’Oréal, Hershey’s Chocolate, Estee Lauder, Unilever, HSBC, and Citi. With this tool, clients can discover which markets are growing.
Join their next Webinar on May the 12th:
Register now to learn about global middle-class spending trends post COVID-19 from the co-founder Dr. Homi Kharas. You will also find out how much global consumer spending will be impacted by the coronavirus: buff.ly/2VNjlbG
Follow World Data Lab to stay in touch of how our world looks in numbers:
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