Forecasting on Equipment Manufacturing Industry Development in View of Big Data

Big data are widely used today, whether and how to use big data in economic variables forecast has become a new field of economic research. The equipment manufacturing industry is the foundation of the national economic development, so forecasts the development of equipment manufacturing industry is a very important research. In equipment manufacturing industry development forecasting, two types of data can be applied, namely traditional government statistical data and online data. Government statistical data are well-structured, whereas online data is unstructured information. This paper explores whether online data can help us to forecast equipment manufacturing industry development and analyze the best model to forecast. We find that traditional government statistical data and online data both can help forecast, so when we doing the forecasting, we should use the traditional government statistical data and online data at the same time.