Question

Provide a specific example of a large dataset, and how it can be used in your current or future career. What are some of the challenges of working with large datasets, and how you think you can overcome these challenges?

Answer 1

A large dataset example is : The year end market capitalization of all the companies listed on Bombay Stock Exchange. This dataset will comprise of ~3000 (number of companies) * 25 (Years of data available) observations.

In my current career, I have used it to look at size-specific investment returns of the companies listed in Emerging Market like India. I have looked at how the concentration of largest firms relative to the total market capitalization of Indian markets has evolved over the years. Apart from market capitalization, I have alsolooked at annual turnover figures.

Some of the challenges working with large datasets are computational. These can be overcome by using a good programlike SAS. STATA. Other major issue is missing values. This can be overcome by dropping those observations for which a particular variable is missing.