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New Data Company Offers Real-Time Measure of World Prices04:33
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Premise maps example (Premise.com)
Premise maps example (Premise.com)

With the snap of an Android smartphone, hundreds of people in 25 cities around the world are collecting and uploading photos and the daily prices of everyday commodities and merging their data with prices collected from online shopping sites.

The company Premise believes this data will not only help investment bankers track real-time costs and inflation but also offer consumers a glimpse of the global shopping culture.

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This segment aired on October 16, 2013.

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