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Spotify downloads could predict economic mood
Data on music downloads from Spotify has been used to help the Bank of England predict people’s sentiment which turns out to be as accurate in tracking consumer spending as surveys of consumer confidence according to Andy Haldane, Chief Economist at the Bank of England. In a speech given at King’s Business School, entitled Will Big Data keeps its Promise? Mr Haldane gave an overview of how Big Data was helping the Bank to improve […]