CAA formulates market data forecasting system

For speedy decision making:

Ramani Kangaraarachchi

Romesh De Vanasen

The Government and consumers will benefit by the new pricing, forecasting and current market information system launched by the Consumer Affairs Authority (CAA). Consumer Affairs Authority Data Processing Unit Head Romesh De Vanasen said the Government can keep track of the stocks available in stores and make decisions for the future based on the data through this system.

Data is collected from required areas in the country, downloaded and processed in the CAA Centre and these data are converted to required reports. The system has the ability to collect, process and share information faster and get forecasting for the next month and year.

This data is distributed to government departments, private sector, public sector and publications. Vanasen said that Consumer Rating System and the Feed Back System is the other first on-line product and service rating system in Sri Lanka. By having a On-line Rating System for Sri Lanka using the Facebook platform as a method of authenticating user ratings from consumers in the current market place will give a real feed back on products and services available.