It is difficult to find a market today that is more dynamic than the automobile industry. The creation of new operating systems and engines, the increased competitiveness of the world market, and the change in driver behaviour necessitate new, imaginative thinking and make the industry rife for innovation. But as with any market, the market for automobile innovation is cyclical, and we, like any serious competitor, need to stay up-to-date on the trends. To this end, we have worked together with the Fraunhofer Institute for Industrial Engineering and Organisation to create a Mobility-Innovation-Index.
A Forecast Tool for Mobile Innovation
The Mobility-Innovation-Index is based on the renowned ifo Business Climate Index produced by the ifo Institute for Economic Research in Munich. This index compiles information received through a survey filled out by leaders in all the major business markets to forecast the economic climate in Germany. Although the index is a soft indicator, it has the advantages of being published more often and more quickly than official statistics and it asks questions about a company’s outlook and not just its status quo. Similarly, the Mobility-Innovation-Index compiles information from leading players in the automobile industry with statistics from other relevant market branches to develop a “mood barometer” for future innovation and development in this field. In order to stay as up-to-date and relevant as possible the index is based completely online. The important players are asked probing questions in regular time intervals and then their answers are presented in index form following the ifo Business Climate Index format. The online format not only enables the quick collection of data but also its even quicker distribution. The Mobility-Innovation-Index attempts to measure development and innovation, two very difficult measurements to report empirically. It too, acts as a quick reacting soft indicator of the mobility innovation market and scrutinises as well as represents the current situation and forecasts for the future.
Advantages for Companies and the Market
We at Alphabet are pleased to be an integral partner in this new index by adding our own data, expertise, and know-how to the data pool and research. Through our work and collaboration and the cooperation of other leading players, we are certain that the Mobility-Innovation-Index will become an important tool and indicator for better assessing the rapid, complex developments and trends in the automobile industry. And, of course, we imagine that the index will spur more innovation in an already rich and exciting field.