Economic Data Analysis: A Comprehensive Examination of Market Trends and Predictive Modeling
DOI:
https://doi.org/10.52152/800042Keywords:
Economic data analysis, market trends, predictive modeling, price competition, consumer welfare, strategic decision-making.Abstract
The present paper focuses on the presentation of economic data analysis, stressing the problem of market analysis and prediction problem. Economic data analysis is the process through which various economic factors of production, or data obtained from various sources, are analyzed to understand past and present economic conditions necessary for identifying patterns and making correct forecasts regarding the future conditions of the market. Thus, combining the ideas embedded in V. Valli's consideration of the American economy and investigating the experiences Alvisi and Carbonara offer in their work regarding price competition and welfare enables us to discuss historical and modern approaches to the study of economic processes. While reading through Valli's work, it is possible to analyze some significant historical approaches toward the economy of America and worth noticing factors. Alvisi and Carbonara's study focuses on the impacts of horizontal product portfolio expansion in a duopoly and, as such, offers agency into price competition and consumer surplus. These are scholarships that this paper harmonizes to affect the market analysis and gain more knowledge in the market patterns and behavioural analysis using statistical models. The results compare economic data analysis and prediction tasks in decision-making and provide methodological significance for economists, policy-makers, and managers. Understanding the economic status trends plays a critical role. The paper will contribute to the discussions on understanding today's economic realities and defend data as critical tools in managing uncertainties to enhance stability and development.
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