Optimization in a Networked Economy

Abstract

An age of network has been living for the last decades. The information technologies have been used by hundreds of millions of users. These technologies are enabling to connect businesses and economic activities. One of the characteristics of the networked economy is the amount of data that produced due to the interlinking of firms, individuals, processes by businesses, and economic activities. Another issue with the networked economy is the complexity of the data. Extraction of the knowledge from the networked economy has challenges by the traditional approach since data is large scale, second decentralized, and third they connect many heterogeneous agents. The challenges can be overcome by the new optimization methods including human element or the social interactions with technological infrastructure.

Keywords

• Networked Economy
• Big Data
• Optimization