High-frequency monitoring of food commodity prices is important for assessing and responding to shocks, especially in fragile contexts where timely and targeted interventions for food security are critical. However, national price surveys are typically limited in temporal and spatial granularity. It is cost prohibitive to implement traditional data collection at frequent timescales to unravel spatiotemporal price evolution across market segments and at subnational geographic levels. Recent advancements in data innovation offer promising solutions to address the paucity of commodity price data and guide market intelligence for diverse development stakeholders. The use of artificial intelligence to estimate missing price data and a parallel effort to crowdsource commodity price data are both unlocking cost-effective opportunities to generate actionable price data. Yet, little is known about how the data from these alternative methods relate to independent ground truth data. To evaluate if these data strategies can meet the long-standing demand for realtime intelligence on food affordability, this paper analyzes open-source daily crowdsourced data (104,931 datapoints) from a recently published data set in Nature Journal, relative to complementary ground truth sample. The paper subsequently compares these data to open-source monthly artificial intelligence–generated price data for identical commodities over a 36-month period in northern Nigeria, from 2019 to 2022. The results show that all the data sources share a high degree of comparability, with variation across commodity and market segments. Overall, the findings provide important support for leveraging these new and innovative data approaches to enable data-driven decision-making in near real time.
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Reproducible Research Repository (World Bank) | https://reproducibility.worldbank.org |
Paper exhibits were reproduced in a computer with the following specifications:
• OS: Windows 11 Enterprise, version 21H2
• Processor: Intel(R) Xeon(R) Gold 6226R CPU @ 2.90GHz, 16 Core(s)
• Memory available: 15.7 GB
• Software version: R 4.2
~20 minutes runtime
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Author | Affiliation | |
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Julius Adewopo | World Bank | jadewopo@worldbank.org |
Bo Pieter Johannes Andrée | World Bank | bandree@worldbank.org |
Helen Peter | International Institute of Tropical Agriculture | |
Gloria Solano-Hermosilla | European Commission Joint Research Center | gloria.solano-hermosilla@ec.europa.eu |
2024-05
Location | Code |
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Nigeria | NGA |
The materials in the reproducibility packages are distributed as they were prepared by the staff of the International Bank for Reconstruction and Development/The World Bank. The findings, interpretations, and conclusions expressed in this event do not necessarily reflect the views of the World Bank, the Executive Directors of the World Bank, or the governments they represent. The World Bank does not guarantee the accuracy of the materials included in the reproducibility package.
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Modified BSD3 | https://opensource.org/license/bsd-3-clause/ |
Name | Affiliation | |
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Julius Adewopo | World Bank | jadewopo@worldbank.org |
Reproducibility WBG | World Bank | reproducibility@worldbank.org |
Name | Abbreviation | Affiliation | Role |
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Reproducibility WBG | DIME | World Bank - Development Impact Department | Verification and preparation of metadata |
2024-04-29
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