MacroeconBig Data Application To Predict Macroeconomic Indicators — Statswork
Introduction
For quite a period, private agencies and government institutions are collecting and unifying information on several aspects of the economy, and over the period the opportunity of data collection has sufficiently grown, and therefore the quality of data has been enhanced. Nowadays, data are free to the general public on a daily schedule, nearly every day, new data become obtainable and are examined, remarked and construed. Monitoring of macroeconomic conditions has become the regular job of devoted economists at private institutions, banks, and government agencies, who scrutinize through big and complex data to refine all vital information.
Big Data search:
An apt place for a calculation of the prospective welfares and expenses of the Big Data use for macroeconomic prediction is the identification of the source. A foremost source is signified not only by human-sourced information otherwise known as Social Networks, which mainly explain to include social networking, but also e-mails, internet searches, comments, blogs, videos, pictures, etc. The allied data is roughly organized and frequently ungoverned.
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Forecasting with Big Data: A Review, 2015, Emmanuel Sirimal Silva
