HYPERDATA-articleLarge“David Soloff is recruiting an army of “hyperdata” collectors.  The company he co-founded, Premise, created a smartphone application that is now used by 700 people in 25 developing countries. Using guidance from Mr. Soloff and his co-workers, these people, mostly college students and homemakers, photograph food and goods in public markets.

By analyzing the photos of prices and the placement of everyday items like piles of tomatoes and bottles of shampoo and matching that to other data, Premise is building a real-time inflation index to sell to companies and Wall Street traders, who are hungry for insightful data.”

Read More: http://www.nytimes.com/2013/11/11/technology/gathering-more-data-faster-to-produce-more-up-to-date-information.html?_r=0