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China's economy relies heavily on its diverse industries, and efficient economic management plays a vital role in national development and improving people's livelihoods. The application of massive data in economic management not only enhances the level of financial control but also lays a solid foundation for subsequent optimization and research on financial management technologies. This paper analyzes the application of big data in economic management, discusses its development, management practices, and existing challenges, and highlights the important role of data-driven decision-making in optimizing financial control. A new economic management model based on data monitoring, consumer demand forecasting, and product price information analysis is proposed. The proposed algorithm achieves a 22.98% higher accuracy in predicting consumer purchasing propensity compared to the traditional support vector machines algorithm.
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1 Khoury College of Computer Sciences, Northeastern University, USA
2 School of Systems and Enterprises, Stevens Institute of Technology, USA
3 Department of Computer Science and Engineering, University of California, San Diego, USA
4 College of Engineering, Carnegie Mellon University, USA