Can Big Data Analytics technology be helpful in forecasting complex multi-faceted climate, natural, social, economic, pandemic, etc. processes?
Industry 4.0 technologies, including Big Data Analytics technology, are used in multi-criteria processing, analyzing large data sets. The technological advances taking place in the field of ICT information technology make it possible to apply analytics carried out on large sets of data on various aspects of the activities of companies, enterprises and institutions operating in different sectors and branches of the economy.
Before the development of ICT information technologies, IT tools, personal computers, etc. in the second half of the 20th century as part of the 3rd technological revolution, computerized, partially automated processing of large data sets was very difficult or impossible. As a result, building multi-criteria, multi-article, big data and information models of complex structures, simulation models, forecasting models was limited or impossible. However, the technological advances made in the current fourth technological revolution and the development of Industry 4.0 technology have changed a lot in this regard. More and more companies and enterprises are building computerized systems that allow the creation of multi-criteria simulation models within the framework of so-called digital twins, which can present, for example, computerized models that present the operation of economic processes, production processes, which are counterparts of the real processes taking place in the enterprise. An additional advantage of this type of solution is the ability to create simulations and study the changes of processes fictitiously realized in the model after the application of certain impact factors and/or activation, materialization of certain categories of risks. When large sets of historical quantitative data presenting changes in specific factors over time are added to the built multi-criteria simulation models within the framework of digital twins, it is possible to create complex multi-criteria forecasting models presenting potential scenarios for the development of specific processes in the future. Complex multi-criteria processes for which such forecasting models based on computerized digital twins can be built include climatic, natural, social, economic, pandemic, etc. processes, which can be analyzed as the environment of operating specific companies, enterprises and institutions.
In view of the above, I address the following question to the esteemed community of researchers and scientists:
In forecasting complex multi-faceted climate, natural, social, economic, pandemic, etc. processes, can Big Data Analytics technology be helpful?
What is your opinion on this issue?
Please answer,
I invite everyone to join the discussion,
Thank you very much,
Best wishes,
Dariusz Prokopowicz
Dear Dariusz
The simple answer is YES!
The problem, however, is that the analytics are imperfect...
It is necessary to understand how human intuition (expert intuition) works... I am convinced that understanding the mechanisms of intuition holds great potential for improving analytics and forecasting...
My own research shows that nature has found genius ways to deal with radical uncertainty with limited resources...
Yurii
Darius,
You and your level headed beings already shown that the only and the inevitable way is
"Big Data Analytics technology".
Do you doubt?
Or are you concern of the cost effective?
Please answer Darius because your answer to my questions are the points you can further think about , how can be proceed ahead.
Fatema
Furthermore, I advocate for the new formation of "Prognostic Software" came to my knowledge just recently can be useful.
Fatema
- Badges
- Science topic
- Similar topics
- Cognitive Science
- Thinking