Interest in the idea of analysing web data to make predictions took off around a year ago, when researchers at Google used the frequency of certain search terms to forecast the sales of homes, cars and other products.
In their landmark study, Hal Varian, Google's chief economist, and his colleague Hyunyoung Choi showed how the volume of searches for certain products, such as types of car, rose and fell in line with monthly sales. Google keeps extensive records of what ...
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