THE CONCEPT OF THE BIG DATA ECONOMY AND THE DIGITAL ECONOMY: CHALLENGES AND DIRECTIONS OF DEVELOPMENT

The article explores the interaction of the big data economy and the digital economy as key factors in the transformation of the modern market. The author analyzes the opportunities offered by the integration of big data into digital business models, including increased management efficiency, personalization of services, process automation, and the formation of new sources of profit. The purpose of the article is to theorize theoretical and practical aspects of the concept of big data economy and digital economy in the context of challenges and development directions. Research objectives: 1) to reveal the big data economy as a factor in optimizing business processes and creating new market opportunities in the digital economy; 2) to formulate the essence and key components of the big data economy concept; 3) to analyze the problems of the big data economy and the ways to overcome them; 4) to find out the international experience of forming the big data economy in the context of exponential development of information 5) to analyze the effective global management of big data as a factor of sustainable development. The methodology of researching the big data economy and the digital economy combines quantitative and qualitative methods of analysis, allowing to assess the impact of big data on economic processes, predict development trends and develop recommendations for the effective use of digital technologies. Literature analysis. The research focuses on the socio-economic and political implications of new digital technologies, including the platform economy and the gig economy, examines the interdependence of artificial intelligence and big data, as well as the prospects for their use in the economy, analyzes how artificial intelligence can transform the economy and what opportunities it opens up. The main challenges associated with the development of this area are outlined, including cybersecurity issues, ethical dilemmas of data use, regulation of digital platforms, risks of market monopolization, and impact on the labor market. The article suggests possible directions for further development of the interaction between the digital economy and big data, in particular through improving regulatory mechanisms, developing algorithmic transparency, balancing innovation and personal data protection, and expanding digital inclusion.