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Stay Ahead of Competition

Author

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  • Fok, D.

Abstract

The widespread use of the Internet and computer systems has led to a situation where data are available on almost everything. The volume and the level of detail of these data is something we considered to be impossible until a few years ago. Researchers in economics and business now have access to a new variety of data. Such data are often not directly comparable to the data that have historically been considered in econometrics. This brings opportunities and challenges for academic researchers, companies, and even econometrics as a field and as an educational program. All parties involved can, or even have to use these data to stay ahead of the competition.

Suggested Citation

  • Fok, D., 2013. "Stay Ahead of Competition," ERIM Inaugural Address Series Research in Management EIA-2013-054-MKT, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam..
    • Handle: RePEc:ems:euriar:41515
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    More about this item

    Keywords

    Bayesian inference; Big data; Business data; Data mining; Econometrics; Forecasting; Quantitative marketing;
    All these keywords.

    JEL classification:

    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General

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