Business Intelligence Applications – Possible Instruments For Economic Integration Within The Eastern Partnership
Eastern Partnership includes, in addition to bilateral components (Association Agreements, Deep and Comprehensive Free Trade Areas/DCFTA), also a multilateral dimension as "economic integration and convergence with EU policies". This stated purpose of the partnership involves the need for adaptability to regional conditions and a differentiated approach to economies in the region in order to establish common objectives. Partner countries have aspirations that vary by geographic location, state of relations with the European Union and Russia, foreign policy objectives in medium and long term, real prospects of joining the European Union, or internal stability in economic and social aspects. Macroeconomic indicators specific to each country must undergo a dynamic analysis aimed on current situations and also on evolution of economic life. Thus, it requires processing a huge volume of historical data, creating possible scenarios based on policies implemented or being implemented to reach comprehensive information to provide a realistic picture of the economic growth at the macro level. Successfully implemented in enterprises, Business Intelligence (BI) applications can be used to analyze large volume of data required to be processed to reach full and useful reports for the process of negotiation between the partners involved in the agreements referred and, very importantly, to establish a common language for all bodies and institutions co-opted into negotiations. Differences between the EU and other Eastern Partnership countries are obvious but economic common terms and methods or techniques of similar work can help plan positive developments in the negotiations and the desired convergence of economic policies. Business Intelligence tools simplify the presentation of needed information for discussions and provide a foundation in starting up joint analysis of economic dynamics in the area to reach complete and actual lines of future possible cooperation. This paper aims to reveal practical aspects on possible implementation of BI capabilities in the field of data analysis that is needed for the economic integration promoted by the Eastern Partnership.
Volume (Year): 8(3) (2016)
Issue (Month): 3 (October)
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