Nymand-Andersen, P. (2015), “Big data: the hunt for timely insights and decision certainty: Central banking reflections on the use of big data for policy purposes”, IFC Working Paper No 14. 2 See Desrosières, A. (2002), The Politics of Large Numbers. A History of Statistical Reasoning, Harvard  University Press. 3 The ECB started thinking quite early about what policymakers can learn from big data.
The first conference it  organised on this topic was held in April 2013, marking the start of a series of central banking conferences on big data. In parallel, joint efforts were undertaken by the Bank for International Settlements’ Irving Fisher Committee, which has launched pilot projects covering the internet, commercial and public sources and financial market information.