Big Data or Statistical Data? Extracting Information about Consumer Prices in the New World

1:00 pm EDT

Webinar recordings and presentations are available to Members.

Consumers, economists, and businesses have an exponential variety of sources and data to evaluate consumer prices – food, clothing, cars, medical costs, airline tickets. Traditionally, consumer prices have been measured in a regular, consistent pattern. Yet, big data sources are transforming our understanding of pricing dynamics in the marketplace. This webinar will explore trends and patterns in data collection, analysis, timeliness, and transformation by two experts in the field. What are the benefits and cautions about new data sources, open data, and traditionally created statistical data? What are we learning from the effort to create the new data from alternative sources?

Virginia Carlson, DSSG, APDU Board member

Joan Naymark, APDU Board Member

Roberto Rigobon, Billion Prices Project, MIT
Mike Horrigan, Associate Commissioner for Prices and Living Conditions