Big Data: New Approaches in Economic Forecasting
Research Area:
Tasks
The growing volume of usable data generated by digitalisation (big data) creates both challenges and opportunities for empirical economic research. In terms of economic forecasting, it raises the question of the extent to which big data can be used to improve economic analyses, as well as the quality and timeliness of forecasting. To gain an overview of the current state of research and potential perspectives, the German Federal Ministry for Economic Affairs and Energy has commissioned the ifo Institute to organise and hold a workshop entitled: “Big Data: New Approaches to Economic Forecasting.” The workshop will take place on 22 November 2017 at the German Federal Ministry for Economic Affairs and Energy in Berlin.