WASHINGTON, January 9, 2017—The inequalities that make some countries poorer than others include inequalities of information. To make sound decisions on economic development, policymakers need reliable and—just as important—readily accessible data. That is the concept underlying a new World Bank Group platform called TCdata360, an open platform for trade and competitiveness data from inside and outside the World Bank Group.
TCdata360 combines vetted datasets from more than 20 organizations—including the Bank Group, United Nations, World Trade Organization, World Economic Forum, and Organization for Economic Cooperation and Development—in an interactive, easy-to-use platform. Busy policymakers, development practitioners, academics, and industry specialists can use the site to access, compare, and download timely data on some 2,000 indicators related to a wide variety of trade and competitiveness topics such as trade logistics, global value chains, investment climate, entrepreneurship, and the cost of business operations.
In addition to its comprehensive content, the platform sets itself apart through the visual presentation of information supported by tools that allow users to create customized graphics. TCdata360 allows users to create customized visualizations, compare countries and regions, and easily share charts, graphs, and maps through social media. Further, it adds depth to the numbers with curated country reports, data stories, and toolkits that put data in context.
Thomas Verbeet, an analyst with the WTO’s Economic Research and Statistics Division, called TCdata360 “a remarkable new data initiative … (that) allows sourcing new insights from multiple data sources providing timely and valuable facts for trade policymakers. I particularly liked the data mining visualization tool, creating new understandings by connecting billions of data points.”