ABSTRACT
When developing a decision-making strategy for an arts business, emerging arts entrepreneurs need data, like any other business. This chapter introduces a number of important tools that are likely new to most artists. One can develop a picture of the present economy’s trajectory using the Broader Economic Data Analysis Sheet (BEDAS) and infer a future trajectory. Entrepreneurs should consider this tool as they would all information about their venture: weighted appropriately and confirmed through their business team. Working with the BEDAS requires observation, a basic understanding of previously presented material and basic math skills. Consumer Confidence is another critical data point for for-profit arts ventures, as it measures planned short-term consumer purchases. The next data point is Exchanges Rates. While the BEDAS gross and fine results are quite helpful, there remains the problem of trying to determine how the BEDAS results impact decision-making. This is where the BEDAS Ultra-Fine Index can help.
