Data-Driven Economic Intelligence Framework for Future Market Analysis and Policy Planning

Abstract

As more economic data and market intelligence become available, there is greater scope for enhancing future market analysis and policy formulation. Economic data analysis, market forecasting, risk assessment, and policy analysis are currently undertaken separately, hence their inability to act as integrated tools for decision-making. In this study, a Data-Driven Economic Intelligence Framework is proposed where economic data analysis, market intelligence, forecasting, scenarios analysis, and policy formulation are brought together under one integrated analytical framework. The framework assesses four factors; Economic Activity, Market Outlook, Risk Level, and Policy Readiness which will be used to compute Economic Intelligence Index. Four scenarios, Baseline, Growth, Risk, and Policy Adjustment, will be used to analyze future economic conditions. The findings of this illustration show that the Growth scenario shows high economic activity and market outlook while the Risk scenario exhibits poor market performance and high-risk level. The Policy Adjustment scenario indicates improved market environment as well as policy readiness in the best case. It is evident from the results obtained that integrated economic intelligence would help in detecting risk, analyzing market opportunities, forecasting and implementing policies. The suggested framework serves as an effective structure for decision-making in changed economic environment by governments, investors, and companies. Further research on validating the framework using actual data and improvement in forecasting via artificial intelligence and real-time economic information would be valuable.