Statistics Centre Abu Dhabi

Discover how MCC partnered with the Statistics Centre – Abu Dhabi (SCAD) to develop robust GDP forecasting models for Abu Dhabi. By leveraging advanced methodologies and in-depth sectoral analysis, we empowered SCAD with the tools and insights needed to make informed strategic decisions and drive sustainable economic development. This case study showcases our commitment to delivering precision and actionable results for complex economic challenges.

What the Client Needed?

SCAD wanted to identify qualified entities capable of delivering precise and credible GDP forecasts. Their goals included sector-specific GDP Forecasting through developing detailed predictions for each economic sector contributing to Abu Dhabi’s GDP for a period of up to five years. Moreover, the requirement was to build prescriptive models to assess various economic dynamics and their impact on sectoral and overall GDP as well as ensuring the models remained relevant through regular updates, data monitoring, and integration of new economic indicators.

How we Helped them?

GDP Forecasting

MCC delivered comprehensive forecasting solutions tailored to SCAD’s requirements, ensuring precise and actionable results. Our services included:

  1. Sectoral Research and Analysis:
    • Conducted in-depth research on individual sectors contributing to Abu Dhabi’s GDP.
    • Analyzed historical performance, identified key growth variables, and evaluated market conditions for each sector.
  2. Development of Advanced Forecasting Models:
    • Built sector-specific econometric models and statistical frameworks to forecast GDP trends.
    • Integrated scenario drivers and "what-if" simulations to assess potential impacts of economic changes.
  3. Accurate GDP Forecasting:
    • Utilized advanced forecasting techniques, including extrapolation and time series decomposition, to project GDP trends over the specified time horizon.
    • Accounted for various assumptions and uncertainties to ensure reliable predictions.
  4. Continuous Monitoring and Updates:
    • Regularly updated forecasts with new economic data and information to maintain their accuracy and relevance.
    • Monitored sector-specific indicators and adjusted models to reflect changing market dynamics.
  5. Actionable Insights for Decision-Making:
    • Delivered comprehensive reports and insights to empower policymakers, investors, and businesses in their strategic planning and resource allocation.
    • Enabled stakeholders to identify opportunities for development and investment, supporting the sustainable growth of Abu Dhabi’s economy.

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