Big Data and Predictive Analytics [chapter]

2019 Data Profiling and Insurance Law  
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
more » ... licies 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, nowcasting model and now-casting skill. The results of using the model were analyzed and the recommendations were presented.
doi:10.5040/ fatcat:mmccpantffcobaktmbgvntn47m