Enhancing Economic Management with Information Technology: Insights from Covid-19 in Bosnia and Herzegovina Through the Lens of Machine Learning Methods

Salkić Hadžib, Omerović Aldijana (), Salkić Almira and Kvasina Marija
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Salkić Hadžib: University College “CEPS- Center for Business Studies” Kiseljak, Bosnia and Herzegovina
Omerović Aldijana: College of Finance and Accounting- FINra, Tuzla, Bosnia and Herzegovina
Salkić Almira: College of Finance and Accounting- FINra, Tuzla, Bosnia and Herzegovina
Kvasina Marija: University “Vitez”, Vitez, Bosnia and Herzegovina

Economics, 2023, vol. 11, issue 2, 209-223

Abstract: This paper explores the role of information technology in enhancing the efficiency of economic management during the COVID-19 pandemic. The research aim was to investigate how the integration of information technology, data usage, and analytics, digital transformation of the financial sector, ensuring digital inclusion and cyber security can contribute to improving economic management in times of crisis. The research methodology involved data collection through a questionnaire that asked participants a series of questions about their attitudes and perceptions regarding the integration of information technology and its impact on the efficiency of economic management during the pandemic. The data were analyzed using the chi-square statistical method to determine the existence of significant relationships between variables. The results indicate that information technology is a key factor in strengthening economic management during the COVID-19 pandemic. The integration of information technology, data usage, and analytics, digital transformation of the financial sector, and ensuring digital inclusion and cyber security can enhance efficiency, transparency, and stability during crisis times. The research emphasizes the need for investment in information technology, the development of implementation strategies, strengthening cyber security, and ensuring digital inclusion as key steps towards building a more resilient economic environment during the pandemic. Further research and implementation of these technologies in practice are recommended to achieve sustainable economic development and successful crisis management.

Keywords: information technology; machine learning; COVID-19 pandemic; data usage and analytics; digital trans-formation; digital inclusion; cyber security (search for similar items in EconPapers)
JEL-codes: O30 O31 O32 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:econom:v:11:y:2023:i:2:p:209-223:n:12

DOI: 10.2478/eoik-2023-0048

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