System Data Analysis: Innovative Technologies, Methods and Techniques

Garnov, A., Zvyagin, L., Sviridova, O.
International Journal of Economics & Business Administration, Volume VII, Special Issue 1, 26-39, 2019

Abstract:

Purpose: The purpose of this article is to explore the use of technology of system data analysis. To achieve this goal it is necessary to solve the following set of tasks: to consider the essential characteristics of system analysis and its concept and to identify the algorithm of the application system of data analysis in the framework of methodological tools. Design/Methodology/Approach: The system analysis of data is considered a popular method of scientific knowledge, similar to the study of operations, since this approach is aimed at optimizing the components of a particular system. Its proper application needs knowledge of its methods, technologies and techniques. Authors compiled, analyzed and structured all the elements needed to solve the system data analysis’ issues. Findings: Authors developed methodological tools, which can be classified according to some features as: the stage of solving a specific problem, the method of obtaining and presenting information data, the level of formalization of data. Authors also presented the system approach algorithm and scope, highlighting the technologies involved. Practical Implications: The results stressed the problem that the state is faced with the need to maintain a balance between the desire to regulate the state in this sphere and the needs of the market. The findings may be implemented into managerial practices in order to improve and increase the effectiveness of business administration. Originality/Value: The key contribution of this study is the compiled set of data analysis elements to practically keep business environment indicators of interest, relying not only on intuition, but also on framework of methodological tools.


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