Abstract for: Model-based Nowcasting

Nowcasting has become more and more important in our fast moving world. We present two of our real-world nowcasting models, one from the construction industry, another for the COVID-19 statistics. The models focus on characterizing the delay and incorporate additional data. Parameterizations can be carried out promptly, in some cases automatically. It is also relatively easy to create and further develop nowcasting models of this kind, since the treatment of delays is part of the standard repertoire of system dynamics and the methodology and tools are particularly suitable for practice-oriented rapid reactions to new challenges.