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March 16, 2010

ForecastWatch Founder On Bloomberg TV

The founder of ForecastWatch, Eric Floehr, appeared on Bloomberg TV during the 1pm news hour.

The segment discussed how weather forecasts can be used in investing and trading, and how weather strongly affects consumer decisions and the economy. Eric made the following points:

  • The commercial weather forecast providers and the NWS and EC all do a good job
  • Different weather forecasters do better in different regimes: A forecasting company may do better in the plains, another better on the coasts
  • ForecastWatch customers include The Weather Channel, Telvent DTN, and CustomWeather
  • ForecastWatch also works with weather forecast customers to understand how weather forecasts can be used in modelling and decision-making
  • A one-degree improvement in the accuracy of weather forecasts could result in a savings of one billion dollars in energy costs
  • The more a weather forecast changes, the less accurate it will be

You can watch the segment on Sling here or on Bloomberg here.



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