Micro data firstly improve our understanding of the transmission mechanism of monetary policy and secondly allow us to better understand the aggregate data and thus better forecast their evolution. These two aims actually imply that micro data do not only signify a move beyond the aggregates but also a look behind the aggregates.
Micro data can either supplement existing aggregate data or replace aggregate data with new data sets of better quality. Micro data can enhance the versatility of aggregate data, as they can be adjusted to accommodate financial innovation, regulatory changes or behavioral reactions to a changing economic environment.