Wednesday, March 27, 2013

Big Data and official statistics

From: http://www.bruegel.org/nc/blog/detail/article/1059-blogs-review-big-data-aggregates-and-individuals/#.UVL84BxhWCk

Big Data is relevant to the production, relevance and reliability of key official statistics such as GDP and inflation.

Michael Horrigan, the head of the Bureau of Labor Statistics (BLS) Office of Prices and Living Conditions, provides a definition that helps clarify where the border lies between Big Data and traditional data. Big Data are non-sampled data that are characterized by the creation of databases from electronic sources whose primary purpose is something other than statistical inference.

Read more....

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.