How Big Data Is Changing Economies
“Big data” has quickly become a buzzword, but it encapsulates the dramatic rise of statistical and computational technology that allows for collection and analysis of data on everything from industrial systems to our online interactions. Big data is transforming how policymakers and business leaders make decisions. Vast stores of data also open new avenues to researchers seeking to confront and understand the economic and statistical challenges of our time.
This panel brought together experts in information architecture, statistical methodology, and the economics of the internet in order to consider how “big data” is shaping the 21st century economy. Panelists Susan Athey, Hal Varian, and Larry Wasserman discussed the challenges that large data sets present, the questions such data might help us answer, and what that means for all of us in the years ahead.