Macro Forecasting Using Alternative Data
Author | : Apurv Jain |
Publisher | : |
Total Pages | : 48 |
Release | : 2019 |
ISBN-10 | : OCLC:1304265178 |
ISBN-13 | : |
Rating | : 4/5 ( Downloads) |
Download or read book Macro Forecasting Using Alternative Data written by Apurv Jain and published by . This book was released on 2019 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional macroeconomic data used by economic agents to make decisions are noisy, lack richness, and produced with considerable lag. This chapter explores how alternative, web-scale data sources (“Big Data”) can help. We present a case study using a common alternative data source- web search to predict one of the most important data releases- non-farm payrolls (NFP). We discuss the efficacy of various machine learning (ML) techniques, the live performance of alternative data prediction models and the typical problems faced in practice.