Econometric MachineLearning

Econometric Vs Machine learning

This contribution, through a review of the available literature, seeks to analyze and evaluate the links between econometric and machine-learning techniques that have been researched in the context of economic and to identify areas or problems in the real-time economic prediction that have been inadequately explored and are potential areas for further research.

What is econometrics? 

Econometrics is the quantitative application of statistical and mathematical models using data to develop theories or test existing hypotheses in economics and to forecast future trends from historical data. It subjects real-world data to statistical trials and then compares and contrasts the results against the theory or theories being tested(investopedia).