A number of recent studies in the economics literature have focused on the usefulness of factor models in the context of prediction using "big data". In this paper, our over-arching question is whether such "big data" are useful for modelling low frequency macroeconomic variables such as...

The continuous monitoring of weather is useful to predict the upcoming weather based on the previous data. The Internet of Things is included in weather monitoring to get the data from anywhere in the world. The big data processing is the part of Internet of Things to analyze the weather station...