When I read this:
Google is using its vast database of web shopping data to construct the ‘Google Price Index’ – a daily measure of inflation…is working on “predicting the present” by using real-time search data to forecast official data that are only released with time lags.
I think to myself, this is just the tip of the iceberg. Google needs to find revenue streams other than search. At some point, Google is going to realize that
- Google is all about processing information
- Wall Street is all about processing information
- Google would be very good at doing what Wall Street is doing
- Doing what Wall Street is doing (better) would create an enormous revenue stream.