Learn to make numbers talk. They will speak to you about hard truths and also reveal the future” – John D. Rockfell
We live in the Big Data era, therefore the need to understand all available data is crucial but always in conjunction with the use of the right tools for its analysis. Data is available in multiple forms. From transactional data to time series, stock prices, data from social media, maps, loyalty cards, and many more. The analysis of this data, through the use of tools will provide us with the empirical content and this is what econometrics is. It is the application of statistical methods to economic data in order to provide empirical content to economic relationships. The data types (i.e. cross-sectional, panel data, time series data, etc.) define the methodology that should be followed, while also establish whether the purpose is prediction, forecasting or to identify causal relationships. Econometrics analysis will make the numbers talk about the hard truths but also can predict the future. To sum-up, data is all around us, and Econometrics exist, whenever this data and our natural curiosity to explain relationships or validate hypotheses, meet.”
The Post Graduate Department of Commerce organised an International Webinar in association with University of Bath, UK as part of knowledge sharing process on the topic : Econometrics – what is it all about”. The resource person of the session was Dr. Maria Giamouzi. She is the faculty in management from University of Bath. The session was very informative and she was able to illustrate the methodology of using Econometrics in data analysis. The webinar was presided by Principal Dr. Cini Kurian and the gathering was welcomed by Ms. Shahanoor Beegum, HOD of commerce and Ms. Krishna, student of second year Bcom Tax delivered Vote of thanks. The whole students of UG and PG classes attended the webinar.