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Leverage existing Database

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What is the idea?

It would be nice to use a database like FRED as the St. Louis Federal Reserve to collect relevant metrics with which to model the effectiveness of the stimulus package.  Many of us already use this database for various econometric models and find it to be reasonably well maintained.  Unfortunately, it is often lacking the regional, temporal or industry specific granularity that we would like to have, but it is a good starting point and provides tools one can use to import the relevant time series into sophisticated statistical packages for time series analysis, intervention analysis, causality testing, etc.  Every effort should be made to collect data at the highest possible frequency.  Weekly would be ideal, but monthly observations would be adequate and make seasonal adjustment easier.

Why is it important?

We should leverage existing technology and make the data available to the widest possible audience.

Submitted by dfxoreilly from SigmaInverse LLC (IT Engineering) on Apr 28, 2009

This idea is now closed to further comments.

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This assumes the databases have been accurately described in a data dictionary, and that all such data dictionaries are integrated to enable database integration. 

A terminology for specific database applications, develoed in a consistent way across all database application, would include very rich "data dictionaries" and thus support automated integration of databases and applications.

So to enable this idea at a minimal cost and effort, establish a standard terminology approach, and apply it at system, function (program/project/operation), and  organization levels.  Then the consistency of the terminology approaches methodology and metamodel would enable automatic integration of all systems modeled this way.

If you do not model (i.e., in a terminology), you cannot measure, so you cannot test, so you cannot manage, and you cannot improve.

Comment from RoyERoebuck at One World Information System on Apr 29, 2009