USING BIG DATA TO OPTIMIZE ECONOMIC PROCESSES IN THE DIGITAL AGE

Abstract

Big Data in recent years have become a source of information about the state of development of economic processes and systems. With proper analysis and interpretation, Big Data can be used to support management decision-making and development of a company's or organization's strategy. For the in-depth study of the chosen topic, more than 40 sources of scientific literature were studied, which made it possible to evaluate both the theoretical aspects of Big Data development and the practical possibilities of implementing big data in the development of modern business. In view of this, the purpose of the research is to determine the features of using Big Data to optimize economic processes in the digital age, taking into account the potential opportunities for analyzing large data sets. To achieve the goal, both general scientific methods (analysis, synthesis, induction, deduction) and special methods of statistical data analysis and forecasting using built-in Microsoft Excel algorithms were used. As a result of conducting research and analysis of statistical material, it has been proven that the significance of Big Data will increase over time, and new opportunities for using this type of information will open up for companies. The scientific novelty of the work consists in defining a wide range of opportunities and prerequisites for using Big Data to support approved management decisions for tactical and strategic business development. The use of Big Data will create prerequisites for more active and stable development for business, as it will allow a more systematic and balanced approach to the analysis of various types of data on the state of the external and internal environment of the business, to determine potential development opportunities and directions of strategic promotion in the market.