Opportunities for applying big data and social network analysis in the field of socio-economic processes monitoring

Abstract

The need for development of a regional innovatory digital system for monitoring socio-economic processes is predetermined by the need to assess the existing response of the population to ongoing socio-economic processes or its prospective response to the administrative decisions taken by the regional authorities. Currently, there are tools that allow to identify the level of satisfaction of citizens, to quickly measure it on the basis of big data sets collected from social media. In this regard, the study aims to identify the prerequisites, opportunities, main approaches and areas of work associated with the creation of a digital monitoring system capable of determining the response of the population to management decisions of a socio-economic nature based on information cascades. Particular attention is paid to the capabilities of the system, arising from the potential laid down in the network analysis. The regional system of support of decision-making is built on the basis of information analysis product, which is based on operational and intellectual analysis of arrays of big data. The study presents the opportunities offered by new approaches to data analysis and data processing techniques.