Concept:
Nowcasting is the process of predicting the weather or economic conditions in the very near future. It’s a combination of the words “now” and “forecasting”.
In Meteorology
- Nowcasting is the process of predicting the weather conditions within a few hours.
- It involves analyzing the current weather and using data from radar, satellites, lightning, and surface stations to predict changes.
- Nowcasting can help predict small-scale features like individual storms.
- The World Meteorological Organization (WMO) defines nowcasting as a detailed analysis of the current weather and a forecast for up to six hours.
- In economics
- Nowcasting is the process of using recently published data to update published economic indicators with a lag.
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