Big Data Analytics

Digital sensors, the Internet of Things and social platforms are among the phenomena which nowadays generate a constant stream of new data. As the volume of this data increases at an ever-faster pace, more and more use is being made of Big Data analyses, which allow an unprecedented potential to be exploited in many areas of the economy. However, the generation and meaningful use of this wealth of information requires special technologies, approaches and systems. Our Big Data Analytics team tackles various aspects of Big Data with a focus on economic issues.

Special Focus

• We specialise in the processing of structured and unstructured data generated by new methods and technologies. These include internet search queries, content from websites (job advertisements, invitations to tender, newspapers, prices) and information from social media.
• Application to economic issues of Big Data methods such as machine learning with deep learning, data mining, natural language processing, time series analysis, etc.
• Application of Big Data to business cycle research
• Augmenting official statistics, for example for the labour market
• Data economics including context-dependent economic analysis of law
• Examples of current research
• The Big Data Cooperation Cluster uses a wide range of analytical methods and approaches. In principle, Big Data methods can be applied to all pertinent economic issues. A typical example is the use of text analysis to analyse networks as in the case given here referring to the German players in Covid 19 research.