An Efficient Approach to Identify Economic Crisis During Covid-19 Outbreaks Utilizing Data Mining

Abstract

This paper indicates identifying upcoming economic crisis that already has occurred as consequence of globally lockdown because of sudden spread out corona virus. We have assured validity of the data 553 instances which we have collected that is filled by different kinds of people like: students, doctor, job-holder, businessmen and others. We have used this collected data to construct a detection system that uses machine learning to identify the upcoming economic crisis due to COVID-19. We have used ten machine learning algorithm and their feature extraction techniques to construct a machine learning classifier. We have performed 10-fold-cross-validation to check validity of the collected data and report the evaluation with performance matrix. Finally, we have used two machine learning algorithms to identify the best result for this research. The final result indicates validity and quality of the collected data which show accuracy and effectiveness in constructing model to detect upcoming economic crisis. As COVID-19 brings a disaster for economy our paper will help to policymakers to identify magnitude of economic crisis which will assist in taking proper step to overcome this problem. Our main goal is to detect upcoming economic crisis that may be occurred due to COVID-19.