BBC Horizon: Age of Big Data

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Theory vs Measurement

Francis Diebold, Professor of Economics and Statistics at the University of Pennsylvania, challenges us in his 60-second lecture to consider that: “[…] theory gets too much respect, and measurement doesn’t get enough. Perhaps that will change in the emerging age of Big Data.”

Will we succeed in using Economics to transform Big Data Analytics, so it becomes less of a data mining technique and more of an Econometric tool?

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