WP 6 Combining big data: early estimates Boro Nikić ESSNET BIG DATA, Brussels January 2016

Aim of WP investigation of multiple BD sources, administrative and other existing sources for the purposes of STS For sources which have the greatest potential the business plan will be prepared and consequently the proposals for second wave of SGA Two pilots at most will be carried out in order to obtain „quick win“ Test the methodology, quality frsmework IT infrastructure

Pilot 1: NowCasts of turnover indices The goal of the pilot is more timely production of turnover indicators (t+15, t+130,..) web-based sales inquires as soon as they are available. Possible other sources: financial variables and wage figures

Pilot 2 Consumer Confidence Index (CCI) The U.S. consumer confidence index (CCI) is an indicator designed to measure consumer confidence, which is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. Goal: Using relavant BD sources (Twiter, Facebook, http://newsfeed.ijs.si/,...) in order to replace existing process of calculation of CCI, create flash estimates, more reliable results,… :

Participants WP leader BD sources ilot 1 Pilot2 Finland √ Netherlands Poland Slovenia

Deliverables Interim feasibility report (by month 6) List of potential big data sources for aims of STS (general) (by month 12) Recommendations for the possible pilots in SGA2 (by month 12) First results on pilots on Consumer Confidence Index and NowCasts of Turnover Indices (by month 12)