Julia Wolfe and Chris Zubak-Skees of FiveThirtyEight –
Fundraising is obviously hugely important to a political campaign, but fundraising numbers alone can’t always tell you whether a campaign is going strong or hitting the skids. (For example, women and people of color generally have a harder time raising money than white men do, so a strong quarter for Kamala Harris might still bring in a lower total than a similarly strong quarter for Sanders.)
Think of fundraising as one more indicator of campaign health, alongside things like endorsements, polls and media coverage. Together, all these metrics give us a sense of who is attracting attention heading into the primaries and caucuses.