Big Data in Economics and Management

Big Data in Economics and Management



https://WebToolTip.com

English | 2026 | ISBN: 9819531241 | 221 Pages | PDF EPUB (True) | 18 MB

With the rapid development of big data, three major challenges arise in the field of economics and management. The first challenge is that the traditional correlation-based methods cannot essentially reveal the true philosophy under the economic activities, modelling and inferring the causal relationship is paramount for discovering the essential effect of certain economic and management policies. The second one is that the computational burden becomes extremely high and the estimation accuracy is lost when the data scale is large. The third one is that financial institutions typically hold tens of thousands of assets, making portfolio risk assessment very computationally intensive.