
Big Data Predictive vs Economics: Who Forecasts Better?
1. Introduction: Forecasting in the Modern World In today’s data-driven world, forecasting plays a vital role. Businesses strive to anticipate consumer demand. Governments prepare for economic fluctuations and public sentiment. Individuals try to foresee job market trends, currency shifts, or property values. Accurate predictions influence decisions in investment, budgeting, lending, and even political strategy. For example, according to McKinsey & Company (2023), companies that use big data predictive analytics achieve 5–10% higher profitability compared to




