Big Data & Econometrics Case Experience

Big Data and Real Time Prices

Technological and computational advances have led to an explosion in the availability of Big Data. Large datasets of information containing millions or even billions of observations, combined with cutting-edge statistical and econometric techniques, can inform many types of analyses - from Business Strategy and Predictive Analytics to the analysis of Antitrust and Merger matters. Dr. Noel is an empirical economist skilled in taking large and complex datasets and extracting the core messages they contain.

In an Antitrust matter in the retail gasoline industry in Australia, Dr. Noel analyzed datasets consisting of hundreds of millions of retail gasoline price observations, generally collected at fifteen minute intervals all day each day for almost all major gasoline stations in a large metropolitan area. Dr. Noel's detailed econometric analysis of the dataset showed that prices were consistent with competition and inconsistent with the widespread coordinated behaviors that were alleged.

In a series of Merger matters in the retail gasoline industry in several different countries, Dr. Noel analyzed datasets consisting of millions of price and quantity observations taken from individual gasoline purchase transactions. Dr. Noel's econometric analysis showed that consumer price elasticities were very high, and he concluded that consumer switching would easily defeat any attempted price increase by the merging parties post-merger. Dr. Noel's expertise and ease in working with Big Data make these large-scale analyses routine.

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