The "Data Science" team supports WIFO's Research Groups with regard to the processing, analysis and evaluation of very complex and large data volumes. The associated high demand for data quality and data consistency characterises all of WIFO's research activities.
New technological developments enable both new methods to analyse large amounts of data and the construction of new data sets. WIFO sees this as a great opportunity for empirical economic research and evidence-based economic policy and therefore uses these new methods both in research projects and in its basic research.
Recent examples include the construction of a data set on complexity indicators (product space indicators). Other complex data sets include WIFO's patent database and the individual dataset of the Ministry of Social Affairs' labour market database.