(a) Why is Twitter classified as Big Data?

(b) Briefly describe one application of Google Trends data

(c) Briefly describe the potential limitations of Google Trends data

Maximum number of characters (including HTML tags added by text editor): 32,000

Show Rich-Text Editor (and character count)

Google Trends: Applications

n Choi, H. and H. Varian (2012), "Predicting the Present with Google Trends," The Economic Record, 88, S1, 2-9

n This article summarizes in a non-technical way some interesting applications of Google Trends in Economics

n Choi, H. and H. Varian (2012), "Predicting the Present with Google Trends," The Economic Record, 88, S1, 2-9

n The article shows that Google Trends data can improve the prediction of claims for unemployment benefits, tourism demand and consumer confidence, among others.

Limitations of Google Trends Data

n The main concern is the validity of such data. Recall that validity is the ability of the data to answer the research question posed.

n It would be nice to isolate the motives for conducting Google searches (e.g. curiosity of a present or prospective user, concerns of a stakeholder, academic/professional interest, etc.). Unfortunately, there is no way of doing so.

n Google searches might be influenced by public/media attention towards the subject rather that actual/potential use.