Abstract:
The ability of now-casting and eventuality is the most crucial and vital achievement of big data analytics in the area of policy-making. To recognize the trends and to render a real image of the current condition and alarming immediate indicators, the significance and the specific positions of big data in policy-making are undeniable. Moreover, the requirement for policy-making institutions to produce a structured model based on big data analytics for now-casting and eventuality of predictive policies is growing rapidly. The literature review demonstrates that a comprehensive model to assist policy-making institutions by providing all components and indicators in now-casting of predictive policies based on big data analytics is not devised yet. The presentation of the model is the main finding of this research. This research aims to provide a comprehensive model of now-casting and eventuality of predictive policies based on big data analytics for policy-making institutions. The research findings indicate that the dimensions of the comprehensive model include: the alignment of now-casting strategies and the big data analytics’ architecture, now-casting ecosystem, now-casting data resources, now-casting analytics, now-casting model and now-casting skill. The results of using the model were analyzed and the recommendations were presented.
Machine summary:
Big Data Analytics and Now-casting: A Comprehensive Model for Eventuality of Forecasting and Predictive Policies of Policy-making Institutions (View the image of this page) Maryam Hajipour Sarduie Ph. D.
The literature review demonstrates that a comprehensive model to assist policy-making institutions by providing all components and indicators in now-casting of predictive policies based on big data analytics is not devised yet.
The scientific contribution of this research that provide the first comprehensive model of now-casting of predictive policies of policy-making institutions based on big data is to identify new domains of innovative and technological activities in areas of policy-making and IT, to recognize the necessary skills and expertise of policy-making institutions and to assist the chief managers to make optimal decisions about investing in area of the IT and to revise activities that are related to information technology in policy-making institutions and to correct methods, and prepared strategies to provide opportunities of gaining competitive advantage.
Figure 1 illustrates dimensions of a comprehensive now-casting and eventuality model of predictive and forecasting policies of policy-making institutions based on big data analytics; BANC2 model and Figure 2 signifies basic components of each dimension.
Mean and the Standard Deviation in Relation to Alignment Dimension of BANC model and the Results of One-Sample t-Test (View the image of this page) According to the above table, now-casting strategy with an average of less than 3 was rejected and big data analytics architecture with an average of more than 3 was accepted.