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RSS FeedsOil companies tried to use Apple mobility data to predict consumption
(iMore iPhone)

 
 

3 july 2020 11:30:46

 
Oil companies tried to use Apple mobility data to predict consumption
(iMore iPhone)
 


Sadly, mobility data didn`t translate to gasoline consumption the way companies thought. What you need to know A report has revealed how oil companies thought they could use Apple`s mobility data to predict gasoline consumption. Turns out, they were wrong. That`s because mobility data uses search information, not miles traveled. A Reuters report has revealed how oil companies thought they could use Apple`s mobility data to predict oil consumption. When Apple launched its mobility data to help better understand the spread of COVID-19 and the enforcement of stay-at-home measures, oil companies thought they had found `the holy grail` of metrics: On-the-spot gasoline consumption figures would change the way oil markets trade, because it is `the holy grail of metrics,` said Patrick DeHaan, head of petroleum analysis at GasBuddy. A few weeks ago, the market thought it had found it. In mid-April, Apple Inc (AAPL.O) unveiled new data tracking human mobility trends, capturing u...


 
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