Predictive Modeling for Economic Implications of COVID-19: Unraveling Patterns and Vulnerabilities Through Machine Learning

The COVID-19 pandemic brought sweeping changes to everyone's economic activities, leaving small-scale and large businesses alike shaken at their bottom line, and governments, including ours, were forced to avert a further global economic collapse. This research discusses an approach based on predictive modeling for the purpose of predicting the economic consequences of COVID-19 for individuals using the machine learning and data driven methods. The study aims to create a predictive model based on RapidMiner software, which will enable the authorities to anticipate a COVID-19's economic crisis and reveal important predictors of the impact. By conducting data analyses and recommendations from the projected models, the result shows a significant impact of the COVID-19 pandemic on different demographics and provides guidelines to policymakers and credible sources. This paper makes a useful contribution for informed decision making and the development of special strategies to counteract crisis' negative impacts and build economic resilience.