Big Data, changes in statistics and the new challenges to politico-economic systems

Hristo Prodanov

Economic Thought journal, 2019, issue 6, 40-58

Abstract: A politico-economic approach is presented for the exploration of the changes that occur in statistics as a result of the transformations in three sets of factors – technologies, politics and economics, and hence in the methods of collecting, storing and analysing data. The main stages in the development of statistics are examined, taking into account the changes in the data processing technologies and the ever changing needs of politico-economic systems. Big Data and the challenges it poses to traditional statistics are analysed. On the one hand, it is able to reveal previously unseen trends and to optimize more human activities, but on the other hand it gives rise to many new questions that are waiting to be answered. These questions stem from the fact that by changing statistics big data tends to change politics, economics, societies and any activity that demands for decisions to be made.

JEL-codes: A12 C10 C8 O25 P16 (search for similar items in EconPapers)
Date: 2019
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