Big Data Analysis: The Next Frontier

Nii Armah
Additional contact information
Nii Armah: Bank of Canada, https://www.bankofcanada.ca/

Bank of Canada Review, 2013, vol. 2013, issue Summer, 32-39

Abstract: The formulation of monetary policy at the Bank of Canada relies on the analysis of a broad set of economic information. Greater availability of immediate and detailed information would improve real-time economic decision making. Technological advances have provided an opportunity to exploit “big data”—the vast amount of digital data from business transactions, social media and networked computers. Big data can be a complement to traditional information sources, offering fresh insight for the monitoring of economic activity and inflation.

Date: 2013
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.bankofcanada.ca/wp-content/uploads/201 ... w-summer13-armah.pdf full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bca:bcarev:v:2013:y:2013:i:summer13:p:32-39

Access Statistics for this article

More articles in Bank of Canada Review from Bank of Canada 234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada. Contact information at EDIRC.
Bibliographic data for series maintained by ().