Digital analytics (history and evolution)

24 July, 202011 July, 2021 by Javier Parra

Javier Parra

487

When we talk about digital analytics, we refer to the tool that studies the activity within one or several websites, focusing mainly on visitor behaviour. However, to make good use of this tool, we must consider its origins and how it has evolved over the years. 1- Arrival of the…

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Ronald Coase, winner of the 1991 Nobel Prize in Economics

13 July, 202027 June, 2021 by Javier Parra

Javier Parra

463

Ronald Harry Coase was born in Willesden, just outside London, on 29 December 1910. This economist was awarded the Nobel Prize in Economics in 1991 for "having discovered and elucidated the significance of transaction costs and property rights in the institutional structure and functioning of the economy". This only child…

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Transaction cost theory or TCT

10 July, 202023 April, 2021 by Javier Parra

Javier Parra

620

Transaction cost theory attempts to answer the questions "why" or "what do firms exist for", understanding firms as a particular type of organisation. These types of organisations have a managerial hierarchy that allows them to manage transactions to minimise costs. The first notions of the theory were introduced by the…

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Crisis vs innovative initiatives

29 June, 202019 December, 2022 by Javier Parra

Javier Parra

366

In these turbulent economic times, it is not easy to gamble or start an activity without approximating, as closely as possible, the risk we may face. However, matching the risk we face is a difficult task in socially stochastic processes. While it is true that a significant component of risk…

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What is Big Data? Fundamentals and applications

22 June, 202012 April, 2021 by Javier Parra

Javier Parra

529

What is Big Data? Surfing the web, using social networks, watching a video, carrying out a bank transaction, etcetera. Nowadays, the capacity to generate data is such that a smartphone had more processing capacity than NASA's technology when the first human being was sent to the moon. We are only…

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Principles of cryptocurrencies

19 June, 202021 April, 2021 by Javier Parra

Javier Parra

430

Before we talk about cryptocurrencies, let us think about the evolution of money and how it has changed its presentation and forms of use. It is a clearly identifiable object with an absolute value for all parties involved. Throughout our history, we have gone through different financial transactions, for example,…

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Kenneth Arrow and John Hicks win Nobel Prize in Economics

15 June, 20203 August, 2021 by Javier Parra

Javier Parra

598

In 1972 the Royal Swedish Academy of Sciences decided on 25 October to award the Nobel Prize in Economics in Memory of Alfred Nobel to Kenneth Arrow and John Hicks for "their fundamental contributions to the general theory of economic equilibrium and the theory of welfare". The theory of general…

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The importance of indicators. The GDP

25 May, 202012 December, 2022 by Javier Parra

Javier Parra

408

We are immersed in days concerned about the Gross Domestic Product (GDP) as an indicator continues to grow. Motivated by the fact that the estimates of the International Monetary Fund (IMF) leave no room for optimism, with Spain's GDP falling by nearly 8%, that of the Eurozone by around 7.5%…

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Simon Kuznets, winner of the 1971 Nobel Prize in Economics

18 May, 202027 June, 2021 by Javier Parra

Javier Parra

582

Simon Kuznets, whose full name was Simon Smith Kuznets, was born in Pinks (now Belarus), near Kharkiv, Russia (now Kharkiv, Ukraine) on 30 April 1901 known for his studies on national income and its components. In 1971 he won the Nobel Prize in Economics for his "empirically grounded interpretation of…

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What is predictive analytics?

11 May, 202016 May, 2021 by Javier Parra

Javier Parra

389

Data analysis is a process of inspecting, cleansing, transforming, sorting, and modelling data to find useful information, reach conclusions, and make appropriate decisions. In statistics, data analysis is divided into descriptive analytics, exploratory analytics and predictive analytics. Predictive analytics is defined as the branch of analytics used to make predictions…

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