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Design of a Socio-economic Processes Monitoring System Based on Network Analysis and Big Data

Aleksandra Polyakova (), M.P. Loginov, A.I. Serebrennikova and El Thalassinos ()

International Journal of Economics & Business Administration (IJEBA), 2019, vol. VII, issue 1, 130-139

Abstract: Socio-economic policy should satisfy the interests of the society as much as possible and contribute to improving the quality of life. This actualizes the role of developing the theoretical and methodological foundations for building an innovative information system for monitoring the socio-economic situation and population responses. The study built and tested an algorithm for supporting management decisions based on the collection of large data sets of socio-economic information based on the principles of the digital economy and processing them through network analysis. The algorithm is focused on building a monitoring system that presupposes a synergy of the authorities and the society, not only in its pensionary part, but also among the masses, which are diverse in their representativeness. The result of the study was the formation of a theoretical and methodological framework for creating a system for making management decisions and assessing the effectiveness of the activities of government bodies, based on the principles of reflection of the final beneficiaries of economic policy.

Keywords: Socio-economic development; socio-economic system; digital economy; monitoring; management decisions; big data; network analysis. (search for similar items in EconPapers)
JEL-codes: E66 D03 M15 (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:ers:ijebaa:v:vii:y:2019:i:1:p:130-139