Data-Driven Economics: A New Era

Abstract

In the last two decades, the world has entered a new economic era shaped by the power of data. The advent of big data, machine learning, and artificial intelligence has revolutionized economic theories, practices, and policies. This paper explores how data-driven economics is transforming traditional economic models, improving policy-making, and influencing decision-making in businesses and government. We examine key concepts, innovations, challenges, and case studies that illustrate the importance of data in shaping the future of the global economy.

Keywords: Data-Driven Economics, Big Data, Artificial Intelligence, Economic Policy, Machine Learning, Digital Transformation