BIG DATA'S ECONOMIC IMPACT FOR POLICY MAKING: THE WAY FORWARD?

Andrei Marcel Manole (), Mihaela Hortensia Hojda (), Liviu Constantin Dafina () and Anda Ileana Necula ()
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Andrei Marcel Manole: “Valahia” University of Targoviste, Romania
Mihaela Hortensia Hojda: “Valahia” University of Targoviste, Romania
Liviu Constantin Dafina: “Valahia” University of Targoviste, Romania
Anda Ileana Necula: “Ion Ghica” Economic College, Targoviste, Romania

Contemporary Economy Journal, 2024, vol. 9, issue 3, 32-37

Abstract: This article considers big data’s impact on business and policy, aiming to understand challenges, opportunities as well as the limitations of the current analysis framework. The study focuses on big data and the analysis of its’ usage in the framework of both public policy and private sector. Similarly to other goods with dual usage, big data is considered both as an opportunity and a challenge, due to implied sectors in this respect, i.e., the economic and political ones. The paper searches for consistency in between economics and politics via big data usage and integration, especially as the state-conducted policy making attempts to respond to private sector needs, trying also to mimic the performance management styles. Simultaneously, private companies have to comply with rules and regulations. The conclusions outline the resistance in big data usage within the decision-making process, as result of human willingness or lack of correlations.

Keywords: Big data; economic policy; management practice (search for similar items in EconPapers)
JEL-codes: O33 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:9:y:2024:i:3:p:32-37

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