A web intelligence information system to support the production of EuroGroups Register (EGR) statistics

Abstract

There is a growing demand for statistics to better understand the globalisation that is accelerating due to the removal of barriers in international trade and to technological progress. Key players in globalisation are the multinational enterprise (MNE) groups that have increased in number and complexity and need to be properly represented by macroeconomic and business statistics. To deal with this need, the European Union Member States, the European Free Trade Association (EFTA) countries and Eurostat have collaborated to create the EuroGroups Register (EGR). This paper explores the use of web intelligence to improve the accuracy and completeness of the EGR, which makes use of tools for extracting and exploring information from the World Wide Web. Additionally, it presents a methodology to assess the quality of the information retrieved from the web, based on an ex-post comparison with the official information contained in the EGR. The results provide indications about the possibility of using web intelligence tools to support MNE group monitoring and to complete the EGR data in cases where this information is missing. Finally, it dives deeply into the approach to harness Wikipedia as a data source and into the techniques and methodology used to extract data from this source.