Predictive Modelling Of Socioeconomic Trends Using Machine Learning: Implications For Policy Planning.

Autor: Thalari, Sanjeev Kumar, P., Dileep, Latha, Y. L. Malathi, Hosamani, Goutam B., Suma, Konda, Nargunde, Amarja Satish, Gupta, Ankesh
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Zdroj: Journal of Namibian Studies; 2023 Supplement, Vol. 33, p2758-2772, 15p
Abstrakt: In today's data-rich landscape, the burgeoning volume of information presents both opportunities and complexities in understanding and forecasting socioeconomic trends. This research explores the transformative potential of amalgamating a diverse array of data sources—conventional economic metrics, geospatial data, and real-time sentiment analysis from social media platforms. We introduce an innovative data fusion framework that not only amplifies predictive accuracy but also addresses essential ethical considerations. Our research underscores the substantial enhancements in predictive precision that result from multi-source data integration. Through the convergence of data streams spanning economic, spatial, and sentiment domains, we illuminate a more comprehensive perspective on socioeconomic dynamics. This inclusive approach adeptly captures temporal trends, equipping decisionmakers with proactive and well-informed choices. The ethical dimension of data integration emerges as an imperative, and we provide clear-cut guidelines for the responsible handling of data, particularly when dealing with sensitive information. Our strategies for bias mitigation contribute to heightened prediction reliability and equity. The real-time evaluation of policy impact, bolstered by insights derived from integrated data, elevates the agility of decision-making processes. Our model centers on interdisciplinary collaboration, fostering synergies among experts from various fields. Through cross-country comparisons facilitated by integrated data, we unveil a global panorama of socioeconomic trends, fostering international policy discourse and collaborative ventures. Moreover, our research introduces forward-looking long-term predictive models rooted in multi-source data integration. These models facilitate strategic planning over extended timeframes, a pivotal asset in addressing pressing global challenges, including sustainability and the imperative of mitigating climate change. In summary, our study underscores the transformative capacity of multi-source data integration in reshaping the prediction of socioeconomic trends. The insights derived from this approach not only elevate prediction precision but also promote ethical, equitable, and timely decisionmaking. By addressing bias, nurturing interdisciplinary collaboration, and considering temporal dynamics, policymakers are aptly equipped to navigate the intricate landscape of socioeconomic trends. This research serves as a cornerstone for informed policy planning and the data-driven shaping of decisions in a dynamic and evolving world. [ABSTRACT FROM AUTHOR]
Databáze: Complementary Index