Big Data and Energy Security: Impacts on Private Companies, National Economies and Societies

The importance of energy security for the successful functioning of private companies, national economies, and the overall society cannot be underestimated. Energy is a critical infrastructure for any modern society, and its reliable functioning is essential for all economic sectors and for the well-being of everybody. Uncertainty in terms of the availability of information, namely reliable data to make predictions and to plan for investment as well as for other actions of stakeholders in the energy markets is one of the factors with the highest influence on energy security. This uncertainty can be connected with many factors, such as the availability of reliable data or actions of stakeholders themselves. For example, the recent outbreak of the COVID-19 pandemic revealed negative impacts of uncertainty on decision-making processes and markets. At the time point when the market participants started to receive real-time information about the situation, the energy markets began to ease. This is one scenario where Big Data can be used to amplify information to various stakeholders to prevent panic and to ensure market stability and security of supply. Considering the novelty of this topic, our methodology is based on the meta-analysis of existing studies in the area of impacts of energy security on private companies, the national economy, and society. The results show that, in a fast-paced digital world characterized by technological advances, the use of Big Data technology provides a unique niche point to close this gap in information disparity by levering the use of unconventional data sources to integrate technologies, stakeholders, and markets to promote energy security and market stability. The potential of Big Data technology is yet to be fully utilized. Big Data can handle large data sets characterized by volume, variety, velocity, value, and complexity. Our conclusion is that the challenge for energy markets is to leverage this technology to mine available socioeconomic, political, geographic, and environmental data responsibly and to provide indicators that predict future global supply and demand. This information is crucial for energy security and ensuring global economic prosperity.

Roles of GARCH and ARCH effects on the stability in stock market crash

We theoretically stochastic simulate and empirically analyze the escape process of stock market price nonequilibrium dynamics under the influence of GARCH and ARCH effects, and explore the impact of ARCH and GARCH effects on stock market stability. Based on the nonlinear GARCH model of econophysics, and combined with GARCH and ARCH effects of volatility, we propose a delay stochastic monostable potential model. We use the mean escape time, or mean hitting time, as an indicator for measuring price stability, as first introduced in Ref. [1]. Based on the comparative analysis of actual Chinese A-share data, the theoretical and empirical findings of this paper are as follows} (1) The theoretical simulation results and actual data are consistent. (2) There exist optimal GARCH and ARCH effects maximally enhancing stock market stability.

The Amur Oblast labor market stability against the backdrop of the new coronavirus disease spread

Subject. This article examines the impact of the spread of a new coronavirus disease on the condition of the labor market of the Amur Oblast. Objectives. The article aims to identify trends in the development of the labor market of the Amur Oblast in the coronavirus spread context. Methods. For the study, I used the methods of statistical and comparative analyses. Results. The article finds that the restrictions imposed in order to prevent the spread of the new coronavirus infection have had an effect on the labor market in the Amur Oblast. It notes the deformation of the structure of demand for labor and labor supply in the Amur Oblast at present. Conclusions. Currently, government support for the population, including the employed and unemployed, and enterprises of various forms of ownership is of particular importance.