Econometrics Paraphernalia, Big Data for G-20 Countries to Uplift through Scientific Analysis: A Conceptual View on Data Analytics

Author:Muhammad Mahboob Ali

Abstract:
The study tried to analyses whether econometric tools and big data for G20 countries and beyond upliftment can be used for scientific analysis for sustainability so that in real life, theory can be attained and better utilization for benefits of G20 leadership by India through using appropriate data analytics. This may help to take suitable decision rapidly. As such research question is whether econometric tools and big data can be used for sustainability through scientific analysis in field of reality for the betterment of G-20 countries and also other countries of the earth irrespective of developed and underdeveloped countries? The study is mainly done based on conceptual view. Time period of the study is from January, 2023 to April, 2023.The study found that with caution econometrics tools and big data must be used for perspectives of macro and micro-scenario while big data can be used for larger volume of data right direction to the policy makers and appropriate leadership. Author suggested that econometrics tools should be used with appropriate carefulness so that spurious relationship cannot be disseminated rather if necessary qualitative judgment needs to be discussed to give clear cut picture of the estimated results based on the reality. Big Data analysis can help G-20 countries by acting a serious part in navigation the international economy over the noteworthy trials the situation expressions as commented by the author. Data analytics are progressively getting more positioning for enchanting rapid choice of the global, regional, domestic trade and business, financial, health, education sector, agricultural sector etc. Big data is nowadays in performance can carry vital role for large volumes of data which may be tested to assess the impact of G20 into diversified countries of the globe to attain sustainability.

Keywords:Big Data, Econometric and Statistical Methods, Econometric Modeling, Micro econometrics, Macro Econometrics, G20, Financial Econometrics, Data Analytics.

DOI:10.46333/ijtc/13/1/5

International Journal of Trade & Commerce (Vol: 13 Issue:1)