What is it about?
The paper shows the evolution and output of a big data startup that measure inflation in a city. The project relies on web scraping technologies to collect data and machine learning algorithms to classify in categories and estimate indices. The paper compares results with another local project that estimate inflation by traditional means and remark the efficiency of the results.
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Why is it important?
It is important because it portrays the empowerment that modern recollection technologies and big data methods bring to small teams of independent individuals. It allows to control official figures in case of manipulation such that observed in the Argentine case in the 2007-2015 national statistical intervention.
Perspectives
I hope this publication inspires people to crosscheck information and empower citizen independent controls of socioeconomic information.
Dr Juan MC Larrosa
Universidad Nacional del Sur
Read the Original
This page is a summary of: Web scraping based online consumer price index: The “IPC Online” case, Journal of Economic and Social Measurement, December 2019, IOS Press,
DOI: 10.3233/jem-190464.
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