Number of small businesses open, as defined by having had at least one transaction
in the previous 3 days, collected by Womply and compiled by Opportunity Insights. Transactions and revenue are reported based on the ZIP code where the business is located.
Data notes from Opportunity Insights:
Data Frequency: Daily, presented as a 7-day moving average
Indexing Period: January 4th - January 31st
Indexing Type: Seasonally adjusted change since January 2020. Data is indexed in 2019 and 2020 as the change relative to the January index period. We then seasonally adjust by dividing year-over-year, which represents the difference between the change since January observed in 2020 compared to the change since January observed since 2019. We account for differences in the dates of federal holidays between 2019 and 2020 by shifting the 2019 reference data to align the holidays before performing the year-over-year division.
More detailed documentation on Opportunity Insights data can be found here: https://github.com/OpportunityInsights/EconomicTracker/blob/main/docs/oi_tracker_data_documentation.pdf and more details on the methodology and reliability of Womply data can be found here: https://opportunityinsights.org/wp-content/uploads/2020/06/Short_Covid_Paper.pdf