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July 11, 2020

"Building Parthways for Policy Making with Big Data"
Hosted by Bank Indonesia and BIS – IFC
26 July 2018
Venue: The Ritz Carlton, Nusa Dua, Bali

Bank Indonesia and Bank for International Settlements – Irving Fisher Committee on Central Bank Statistics (BIS – IFC) invite central bankers, government official, academics, researchers, industry experts and professionals who wish to attend International Seminar on Big Data 2018 with theme “Building Pathways for Policy Making with Big Data” taking place at The Ritz Carlton, Nusa Dua, Bali from 26 July 2018.

The rapid development of information technology over the last decade, especially with the progress of the internet, has fostered the emergence of new digital based activities in every facet of our daily life, including economic activities. This development, combined with the greater access to large records of financial, administrative and commercial datasets, has created enormous volumes of data – Big Data.

Recent work by the BIS – IFC has underscored the large and widespread interest in central banks in Big Data analytics. Big Data provides many opportunities for supporting policies to promote monetary and financial stability; in particular, it can serve as a useful complement to existing, more structured datasets.

However, getting the most out of Big Data is not a trivial task. Policy makers face numerous challenges during implementation, especially how Big Data should fit in their current policy making process. Significant resources are often required to handle the related large and complex datasets, and clear and effective strategies are needed to realize the full potential of Big Data.

The seminar will serve as a platform to update and share knowledge between policy makers on the topic of Big Data, by reviewing in particular the latest developments and processes observed in the central bank community. Seminar sessions will cover strategic issues related to Big Data implementation for policy purposes and review examples of concrete use cases for supporting financial sector and economic policy analysis. Speakers for the seminar will include high-level officials from central banks, national statistical offices and international organisations, as well as prominent academics and industry experts.

We are looking forward to have fruitfull discussions with you. On behalf of the organising committee.

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