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Submit a Manuscript to the Journal
Economic Research-Ekonomska Istraživanja

For a Special Issue on
Shaping the future of digital economy using business analytics models

Manuscript deadline
30 June 2023

Cover image - Economic Research-Ekonomska Istraživanja

Special Issue Editor(s)

Abbas Mardani, University of South Florida (USF), USA
[email protected]

Edmundas Kazimieras Zavadskas, Vilnius Gediminas Technical University, Lithuania
[email protected]

Reza Farzipoor Saen, Sultan Qaboos University, Oman
[email protected]

Fausto Cavallaro, University of Molise, Italy
[email protected]

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Shaping the future of digital economy using business analytics models

A key challenge for industry policymakers is how to adopt digital technologies in the best way to produce the highest profit. Any failure in this field of competition can lead to significant economic consequences (Afonasova et al. 2019; Papadopoulos et al. 2020). The digital economy makes use of digital technology in order to promote the trade of goods/services via e-commerce (Silalahi, 2019; Pouri & Hilty, 2021). Recently, the substantial growth of the digital sector has resulted in a huge economic development; the shift toward a digital world has considerably affected societies extending far beyond the digital technology context alone (Balcerzak & Bernard, 2017; Grover & Sabherwal, 2020). According to Hofman et al. (2016), digitalization has a great contribution to economic development in two ways: 1) meeting the existing demand for digital products like computers, communication equipment, software, etc., and 2) enhancing the productivity and investments in the Information and Communication Technologies (ICT) (David & Grobler, 2020; Kostakis et al. (2016)). In general, the digital economy is a term referring to a wide range of economic activities that employ digitized knowledge/information in the production process.

Today, the internet, intranet, big data, cloud computing, and other innovative digital technologies are employed to digitally gather, store, analyze, and share information and transform social communications. The digital economy can provide significant benefits since, in recent years, digital technologies have driven innovation and fueled numerous job opportunities (Li et al. 2020; Sutherland & Jarrahi, 2018). I addition, the digital economy has significantly influenced the way people communicate with each other, which has caused extensive sociological changes (Matyushok et al. 2021; Smirnova & Rudenko, 2017).

Digitalization plays a leading role in driving economic development by enhancing the productivity level of capital and labor force, making global markets widely accessible, and decreasing transaction costs (Dahlman et al. 2016; Matyushok et al., 2021). Novel technologies have considerably simplified public access to goods/services at a lower price. With the appropriate and productive use of these technologies, developing economies can even progress toward the status of a developed economy. Since the early 2000s, digitalization has reduced communication costs. This characteristic has helped the poor living in rural areas, who usually have limited access to almost all vital services (e.g., electricity, water, etc.). Additionally, Samimi et al. (2015) maintained that, in less-developed countries, it might take more time for digitalization to influence productivity and economic growth, which is due to the fact that such countries generally lack sufficient competitive space and governments control the market, while the market in developed countries is free.

To get best developed using digital economy, there is a need to adopt some strategies, e.g., enhancing their global value chain positions, strengthening their economic development, and preventing from trapping in possible recessions, and asking the government policymakers and industry stakeholders to understand of the way the digital economy works. As a result, a number of questions are required to be taken into consideration:
1) What is the landscape of the digital economy in the future to transform the industry situations?
2) What are the best measures to gauge the economic performance last time?
3) How will industries be grown by supporting the digital economy?
5) How do the industrial policies of a specific country affect the process of development? And
6) What challenges/opportunities may these changes create for the economy?
7) How do business analytics models help improve organizations' economic performance?

Generally, the literature has not yet clearly answered how digitalization influences economic development. In spite of many efforts, they have not yet achieved the expected economic prosperity associated with digitalization, which is due to different issues such as the shortage of digital skills, insufficiencies in ICT infrastructures, and high-cost structures. To digitalize the economy, there is a need to measure the international transactions and assets and also to measure the scope of works and services (Ahmad & Schreyer, 2016). Consequently, to determine how and how much digital technologies influence the economy, the literature needs to extend the understanding of the digital economy.

Therefore, in the present special issue, we aim to explore the current and ongoing research of the role of digital technologies in economic development using business analytics models. In addition, the present special issue is intended to present the state-of-the-art literature and future challenges of digital technologies in economic development using business analytics models. Researchers and practitioners are invited to submit original research and review papers to enhance our understanding of digital technologies in economic development.

Subject Coverage
Suitable topics include, but are not limited, to the following:
• Circular economy and digital technologies in economic development using business analytics models
• Industry 4.0 and digital technologies in economic development
• Digital technologies and big data in economic development
• Blockchain and digital technologies in economic development using AI
• Optimization models in and digital technologies in economic development
• Decision making and digital technologies in economic development
• Digital technologies in economic development and fuzzy sets
• Business models and digital technologies in economic development
• Machine learning and digital technologies
• Technological revolution and digital technologies
• Internationalization and digital technologies
• Information technology and digital economy
• Sustainable development and digital technologies in economic development
• Digital technologies policies and economic development

Submission Instructions

Shaping the future of digital economy using business analytics models
Empirical, Survey, Bibliometrics and Review Papers

Instructions for AuthorsSubmit an Article