Stay Ahead of Competition

Dennis Fok

ERIM Inaugural Address Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

Abstract: The widespread use of the Internet and computer systems has led to a situation where data are available on almost everything. The volume and the level of detail of these data is something we considered to be impossible until a few years ago. Researchers in economics and business now have access to a new variety of data. Such data are often not directly comparable to the data that have historically been considered in econometrics. This brings opportunities and challenges for academic researchers, companies, and even econometrics as a field and as an educational program. All parties involved can, or even have to use these data to stay ahead of the competition.

Keywords: Bayesian inference; Big data; Business data; Data mining; Econometrics; Forecasting; Quantitative marketing (search for similar items in EconPapers)
JEL-codes: C44 C80 M31 (search for similar items in EconPapers)
Date: 2013-10-04
New Economics Papers: this item is included in nep-ict
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