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Big Data, changes in statistics and the new challenges to politico-economic systems

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  • Hristo Prodanov

Abstract

A politico-economic approach is presented for the exploration of the changes that occur in statistics as a result of the transformations in three sets of factors – technologies, politics and economics, and hence in the methods of collecting, storing and analysing data. The main stages in the development of statistics are examined, taking into account the changes in the data processing technologies and the ever changing needs of politico-economic systems. Big Data and the challenges it poses to traditional statistics are analysed. On the one hand, it is able to reveal previously unseen trends and to optimize more human activities, but on the other hand it gives rise to many new questions that are waiting to be answered. These questions stem from the fact that by changing statistics big data tends to change politics, economics, societies and any activity that demands for decisions to be made.

Suggested Citation

  • Hristo Prodanov, 2019. "Big Data, changes in statistics and the new challenges to politico-economic systems," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 40-58.
    • Handle: RePEc:bas:econth:y:2019:i:6:p:40-58
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    References listed on IDEAS

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    1. Cornelia Hammer & Ms. Diane C Kostroch & Mr. Gabriel Quiros-Romero, 2017. "Big Data: Potential, Challenges and Statistical Implications," IMF Staff Discussion Notes 2017/006, International Monetary Fund.
    2. Cornelia Hammer & Diane C Kostroch & Gabriel Quiros-Romero, 2017. "Big Data; Potential, Challenges and Statistical Implications," IMF Staff Discussion Notes 17/06, International Monetary Fund.
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    More about this item

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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