IDEAS home Printed from https://ideas.repec.org/a/mes/jeciss/v52y2018i2p580-588.html
   My bibliography  Save this article

Big Data: An Institutional Perspective on Opportunities and Challenges

Author

Listed:
  • Baban Hasnat

Abstract

The data revolution is already reshaping how knowledge is produced, business conducted, humanitarian assistance handled, public officials elected, and governance enacted. Economists rely on data to describe, interpret, and forecast economic activity. Despite the rich tradition of using large datasets, institutional economics have shied away from big data. This article describes, reviews, and reflects on big data, with a particular focus on economic development. It illustrates the vast opportunities and challenges for big data as an important tool for the benefit of the public. It suggests that big data and data analytics, if used properly, can provide real-time actionable information that can be used to identify problems and needs, offer services, and provide feedback on the effectiveness of policy action.

Suggested Citation

  • Baban Hasnat, 2018. "Big Data: An Institutional Perspective on Opportunities and Challenges," Journal of Economic Issues, Taylor & Francis Journals, vol. 52(2), pages 580-588, April.
    • Handle: RePEc:mes:jeciss:v:52:y:2018:i:2:p:580-588
    DOI: 10.1080/00213624.2018.1469938
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00213624.2018.1469938
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00213624.2018.1469938?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lei Wang & Mengke Yang & Zulfiqar Hussain Pathan & Shafaq Salam & Khuram Shahzad & Jianqiu Zeng, 2018. "Analysis of Influencing Factors of Big Data Adoption in Chinese Enterprises Using DANP Technique," Sustainability, MDPI, vol. 10(11), pages 1-16, October.
    2. Grazia Dicuonzo & Graziana Galeone & Erika Zappimbulso & Vittorio Dell'Atti, 2019. "Risk Management 4.0: The Role of Big Data Analytics in the Bank Sector," International Journal of Economics and Financial Issues, Econjournals, vol. 9(6), pages 40-47.
    3. Di Wu & Zhenning Xu & Seung Bach, 2023. "Using Google Trends to predict and forecast avocado sales," Journal of Marketing Analytics, Palgrave Macmillan, vol. 11(4), pages 629-641, December.
    4. Samuel B. Condic & Roger Morefield, 2021. "Hayek on the essential dispersion of market knowledge," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(4), pages 449-463, December.
    5. Huaiwen ZHANG & Adnan Khurshid & Xinyu WANG & Alina Mirela BĂLTĂŢEANU, 2021. "Corporate Financial Risk Assessment and Role of Big Data; New Perspective Using Fuzzy Analytic Hierarchy Process," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 181-199, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:jeciss:v:52:y:2018:i:2:p:580-588. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MJEI20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.