Abstract: Disclosed is an economic forecast system that overcomes technical problems with conventional systems. Conventional economic forecast systems may analyze past economic behavior and construct statistical models to predict future behavior. When incorporating past weather data, however, conventional systems generate overfitted and/or underfitted models because of the high multicollinearity of weather metrics. The disclosed system overcomes this technical problem with conventional systems by analyzing weather metrics that are divided into groups (based on the multicollinearity of the weather metrics in each group) and generates a statistical model using the one or more most statistically significant weather metrics from each group.

Abstract: A crime forecasting system and method that stores crime data and weather data and determines a crime forecast by adjusting an historical crime rate based on a correlation between a forecasted weather condition and the crime data. The crime forecasting system and method may further store event data and determine the crime forecast by further adjusting the historical crime rate based on a correlation between a future event and the crime data.