Data Resources
| Company type | Private |
|---|---|
| Industry | Economic information, Macroeconomic consulting |
| Founded | 1969 |
| Founder | Donald Marron, Otto Eckstein |
| Fate | Acquired by McGraw-Hill in 1979; merged to form Global Insight in 2001; later acquired by IHS Inc. in 2008 |
Key people | Donald Marron, Otto Eckstein, Allen Sinai, Richard Hokenson, Robert P. Lacey, Joseph Kasputys |
| Products | PRIMA, AID database languages, EPL Econometric Programming Language, MODSIM, MODEL, EPS Econometric Programming System, DRI Review |
Data Resources Inc (DRI), established in 1969 by Donald Marron and Otto Eckstein, grew to become the foremost private distributor of economic information worldwide. Marron, who previously served as CEO of PaineWebber and founded Lightyear Capital, partnered with Eckstein, a Harvard economics professor and former economic advisor to President Lyndon B. Johnson, renowned for his work on the concept of core inflation.
During its peak, DRI created the largest macroeconometric model of its time, with Allen Sinai playing a key role in its design and Richard Hokenson overseeing its maintenance. Throughout the rapid growth of the 1970s, the company was a significant client of Burroughs Computer, operating Burroughs 6700 and 7700 mainframe systems.
The firm pioneered various software products such as PRIMA and AID database languages; the EPL Econometric Programming Language; MODSIM for solving models; and MODEL for econometric modeling. These tools were eventually consolidated into the EPS Econometric Programming System under the leadership of chief architect Robert P. Lacey, with notable contributions from John Ahlstrom, Greg George, and Joe Polak.
DRI issued the monthly DRI Review, which provided summaries of economic forecasts generated by its models. Additionally, it organized outlook conferences and training seminars to share these insights.
General corporate timeline
- 1979: Eckstein and Marron sold DRI to McGraw-Hill for an amount exceeding $100 million. Joseph Kasputys assumed the presidency in 1981.
- 1984: After Eckstein’s passing, DRI fell behind in embracing emerging technologies, continuing reliance on mainframe computers while the sector moved toward personal computer-based analytics.
- 1987: Wharton Econometric Forecasting Associates (WEFA) merged with Chase Econometrics, a rival to both DRI and WEFA.
- 2001: DRI combined with WEFA to establish Global Insight.
- 2008: IHS Inc. acquired Global Insight, incorporating over five decades of expertise along with a workforce exceeding 200 economists, country risk specialists, and consultants.