This chapter is organised as follows: Section 16.2 describes the different types of big data, section 16.3 analyses some advantages and drawbacks of big data while section 16.4 briefly reviews the existing big data literature. Section 16.5 shortly presents the modelling strategies for big data, section 16.6 contains some examples showing, even if in a very preliminary way, the potential of big data in nowcasting and short-term forecasting, while section 16.7 concludes.
The challenge of Big Data
Marcellino, Massimiliano;
2017
Abstract
This chapter is organised as follows: Section 16.2 describes the different types of big data, section 16.3 analyses some advantages and drawbacks of big data while section 16.4 briefly reviews the existing big data literature. Section 16.5 shortly presents the modelling strategies for big data, section 16.6 contains some examples showing, even if in a very preliminary way, the potential of big data in nowcasting and short-term forecasting, while section 16.7 concludes.
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