FFC/2017: The 22nd Federal Forecasters Conference
The Potential for Big Data in Forecasting
Thursday, April 20, 2017
Bureau of Labor Statistics Conference and Training Center 2 Massachusetts Avenue, NE Washington, DC
Dr. Michael Horrigan, Associate Commissioner for Employment and Unemployment, Office of Employment and Unemployment Statistics, U.S. Bureau of Labor Statistics
Dr. Krishna Rao, Director, Economic Product & Research of Zillow
Dr. Tara Sinclair, Associate Professor of Economics and International Affairs, The George Washington University and Senior Fellow at Indeed
The Potential for Big Data in Forecasting Big data coming from all sorts of new sources represents a new frontier in the data-driven analysis of social, physical, and economic trends. Clearly, there is potential for using big data to develop forecasts; however, many analysts are still more familiar with using traditional types of data and techniques to make forecasts and projections. As forecasters explore the potential for big data, there are important questions about the generalizability, specificity, and accessibility of these data and approaches that need to be answered.