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Analysis with Google Trends

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I’ve below placed a link to a how-to paper on using Google Trends for some basic economic and data analysis.

From ‘Predicting the Present with Google Trends,’ by Hyunyoung Choi and Hal Varian:

Google Trends provides daily and weekly reports on the volume of queries related to various industries.

…we are claiming that Google Trends may help in predicting the present. For example, the volume of queries on a particular brand of automobile during the second week in June may be helpful in predicting the June sales report for that brand, when it is released in July.

Our goals in this report are to familiarize readers with Google Trends data, illustrate some simple forecasting methods that use this data, and encourage readers to undertake their own analyses.

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