Science & Tech
AN expert in data science and machine learning, Dr Monday Adenomon, has opined that big data has the potential to produce more relevant and timely statistics than traditional sources of official statistics.
Adenomon, Associate Professor of Econometrics and Financial Time Series, Nasarawa State University, said this in his presentation at the ongoing 1st Bi-Annual Meeting of the National Consultative Committee on Statistics (NCCS) 2024 in Keffi.
The News Agency of Nigeria(NAN) reports that the meeting, organised by the National Bureau of Statistics(NBS), has the theme “Understanding Big Data and Data Science: A New Perspective to Data Analysis and Dissemination.”
He said that big data referred to larger, more complex data sets, especially from new data sources.
“This data is characterised by the fact that it contains greater variety (texts, images, audios, videos etc), arriving in increasing volumes and with more velocity.
“These data sets are so voluminous that traditional data processing software just can not manage them.”
He said the NBS and other agencies could explore the potential of big data by combining big data with official statistics and replacing official statistics with big data.
“Also by filling new data gaps, that is by developing new ‘big data – based’ measurements to address emerging phenomena (not known in advance or for which traditional approaches are not feasible).
“ One big advantage that NBS has is the existence of infrastructures to address the accuracy, consistency and interpretability of the statistics produced.
“By incorporating relevant big data sources into their official statistics process, NBS is best positioned to measure accuracy and ensure the consistency of the whole systems of official statistics. NAN.
17th MAY, 2024.
I.O
Tags: Dr Monday Adenomon Econometrics and Financial Time Series Nasarawa State University
