Big Data for Economic Resilience: The Role of Data Science in Shaping US Economic Policies and Growth: Data Science Contribution in Shaping Economic P

By: Kimbell, Joeleen

Scientific Study from the year 2025 in the subject Business economics - Economic Policy, grade: A, language: English, abstract: The probability and significance of big data have dramatically transformed the economic policymaking matrix into a more robust, resourceful and growth-centered toolbox. This paper aims to understand how data science can drive big data to support the US's economic policies in stabilizing GDP, supporting the recovery of labor markets and decreasing policy feedback time during shocks. The research employs machine learning and econometrics models to address various datasets from government and private and public organizations to assess the effects of data-driven decisions on economic stability and equity. The study shows that big data analysis improves policy accuracy in targeting fiscal interventions and quick responses to financial shocks. For example, analytical tools helped to predict which industries would prove to be more sustainable and aid in the transition of employees; real-time analytics shrunk response time from months to weeks. However, the study also highlights key issues such as algorithmic bias, data accessibility and diversity, privacy and transparency issues. Recommendations for future research focus on the call for further development of digital resources, including different kinds of data and interdisciplinary cooperation to achieve fair and efficient policies. In turn, big data can become a solution, facilitating the creation of the necessary conditions for developing a new economy that can effectively respond to possible future shocks and crises.

• Format: Paperback
• Language: English
• ISBN: 3389106677
• ISBN13: 9783389106679
• Release Date: January 2025
• Publisher: Grin Verlag
• Length: 30 Pages
• Weight: 0.11 lbs.
• Dimensions: 0.1" x 5.8" x 8.3"