NOWCASTING & BIG DATA
Publications | Projects | Team
One research focus of the competence area is the use of large data sets (Big Data) for analyzing and forecasting economic developments. Data available on the Internet are used for this purpose. In addition, text data, e.g. from newspaper articles, are analyzed. In particular, the information content for cyclical developments as a whole and for individual aggregates is examined.
With the help of these high-frequency data, forecasts of the current quarter (nowcasts) are regularly prepared and published. For this purpose, current time-series econometric methods are used, which are continuously reviewed and extended.
