Big Data, changes in statistics and the new challenges to politico-economic systems
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.
Keywords
JEL Classification
References
Daas, P. J. H. and M. J. Puts, B. Buelens, P.l. A.M. van den Hurk (2015). Big Data as a Source for Official Statistics. Journal of Official Statistics, Vol. 31, N 2.
Davies, W. (2017) How statistics lost their power – and why we should fear what comes next. The Guardian, January 19.
Giczi, J. and K. Szoke (2018). Official Statistics and Big Data. East European Journal of Society and Politics, Vol. 4, N 1.
Hammer, C. L. and D. C. Kostroch, G. Quirós, STA Internal Group (2017). Big Data: Potential, Challenges, and Statistical Implications. IMF
Hughes-Cromwick, E. and J. Coronado (2019). The Value of US Government Data to US Business Decisions. Journal of Economic Perspectives, Vol. 33, N 1.
Struijs, P. and B. Braaksma, P. J. H. Daas (2014). Official statistics and Big Data. Big Data & Society, April-June.
Todorova, M. (2015). Counterfactual Construction of the Future: Building a New Methodology for Forecasting. World Future Review, Vol. 7(1), p. 30 –38.