ONS harnesses big data in effort to quickly spot economic trends

Novel ways of monitoring the UK economy include counting the
number of trucks on roads

Government statisticians are trying to harness the power of big
data technology, monitoring the number of lorries on roads and
company VAT receipts, in an attempt to more rapidly spot changes
taking place in the UK economy.

The
Office for National Statistics
(ONS) believes rapid advances in
technology, including around big data, machine learning and online
activity, could enable economists to update their traditional
toolkits.

Source: FS – All-News2-Economy
ONS harnesses big data in effort to quickly spot economic trends