UTILIZING BIG DATA ANALYTICS TO OPTIMIZE INFORMATION COMMUNICATION TECHNOLOGY STRATEGIES

Abstract

In today's interconnected world, ICT-Information and Communication Technology is a pivotal economic development driver. This transformative force fosters global technological advancements, facilitates seamless communication, revolutionizes manufacturing systems, and propels economic growth and progress. As international trade and foreign direct investment take center stage in the global economy, the role of modern information and communication technologies becomes increasingly indispensable. This report explores the profound impact of ICT on economic activities and presents policy proposals aimed at enhancing ICT standards, with a particular focus on informed investment decision-making. Additionally, it delves into the positive correlation between decision-making informed by big data analytics and economic development, utilizing advanced econometric models and the GMM-Generalized Method of Moments model for an in-depth analysis. By embracing these recommendations, nations can leverage ICT to its fullest extent, fostering sustainable economic development and prosperity in the digital age.