What if a simple Google search could predict economic activities? Imagine what could be learned by compiling those queries into meaningful analysis. Such an effort would enable us to gauge and estimate economic conditions which are usually measured by often-delayed government-released data. This talk will showcase how certain keywords can be leading indicators of recession and recovery, and how some search categories can be used to “nowcast” consumer confidence, unemployment, housing prices, automobile buying and stock market volatility. Furthermore, using query trends, we will examine how e-commerce grew at different paces in different sectors and how weather affected the first quarter of 2014. Attend this session to see another way to use big data for the benefit of all.

Contributors: Google
Categories: 2014 Fall - Denver, Summit Presentations
SRC Type: Sourcing