Data Science for Economics and Finance: Methodologies and Applications

This open-access book explores the use of data science, advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, and time series analysis for applications in economics and finance. It showcases successful applications of advanced data science solutions to extract new knowledge from data and improve economic forecasting models. The book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, providing them with an understanding of the main opportunities and challenges, methodological findings, and tools and frameworks for using data science.

Format: Hardback
Length: 355 pages
Publication date: 10 June 2021
Publisher: Springer Nature Switzerland AG

This comprehensive open access book delves into the realm of data science, encompassing a wide range of advanced techniques such as machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, and more. Its purpose is to showcase the effective application of these technologies in economics and finance, leading to the extraction of valuable insights that enhance economic forecasting models.

The book begins with an introductory chapter that provides an overview of the use of data science technologies in economics and finance. This is followed by thirteen chapters, each dedicated to showcasing successful applications of specific data science methodologies. These chapters cover a diverse range of topics, including novel big data sources and technologies for economic analysis, such as social media and news; big data models leveraging supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis.

This book is of immense relevance to all stakeholders involved in digital and data-intensive research in economics and finance. It serves as a valuable resource, helping them gain a deeper understanding of the key opportunities and challenges present in this field. By familiarizing themselves with the latest methodological findings, readers can enhance their skills and knowledge in utilizing and evaluating novel tools and frameworks. The book primarily targets data scientists and business analysts who are actively leveraging data science technologies, but it also proves to be an invaluable resource for research students in disciplines and courses related to these topics.

Overall, this book offers readers a comprehensive and up-to-date exploration of modern and effective data science solutions, empowering them to create tangible innovations for economic and financial applications. By embracing the power of data, researchers and practitioners can unlock new insights and drive positive change in the world of economics and finance.

Weight: 723g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030668907
Edition number: 1st ed. 2021