Macro Forecasting Using Alternative Data

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.