EXAMINING ENTREPRENEURSHIP: CONTRASTING PREDICTION MODELS IN THE DEMOCRATIC REPUBLIC OF THE CONGO

Authors

  • John Smith Master's Candidate in Business Analytics, University of Cape Town, Cape Town, South Africa

Keywords:

Entrepreneurship, New Business Registration, Prediction Models, Decision Support Systems ,Democratic Republic of the Congo

Abstract

The World Bank Group introduced a crucial indicator, "new business registered," to measure a country's entrepreneurship level by considering various factors influencing business creation. This indicator holds significant importance for developing countries aiming to stimulate their economies. However, limited research has been conducted on this subject, warranting special attention, especially for countries seeking to enhance their entrepreneurial landscapes. Identifying influential factors and comprehending their relationships can aid decision-makers in crafting effective policies. Prediction plays a pivotal role in organizational decision-making, providing guidance on addressing internal issues. Choosing the appropriate prediction model involves considering factors such as the prediction context, data availability, desired precision, forecasting period, potential profits, and analysis time. Information and communication technologies, especially decision support systems, facilitate accurate predictions, even for complex data. The Democratic Republic of the Congo, aspiring to become an emergent country by 2030, emphasizes the promotion of entrepreneurship. Evaluating growth in this sector, specifically the "new business registered" indicator, is essential. Leveraging ICT for precise prediction of this indicator allows policymakers to assess the impact of current policies. The challenge lies in selecting the right model for integration into a decision support system within the workflow

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Published

2024-06-13

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Section

Articles