Bloomberg reports on the ways central banks from around the world are using big data in order to learn more about the economies they service. The banks gather data from sources such as Google Trends and job websites to analyze where their economies currently stand, and where they are expected to go in the future. "We are now starting to put in place the necessary tools, infrastructure and skillsets to harness the power of data science to unlock insights, sharpen surveillance of risks, enhance regulatory compliance and transform the way we do work," said Monetary Authority Chief Data Officer David Hardoon. The report cites examples of central banks’ big data use in the Asia-Pacific region, the European Union and the U.S.
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