THE ROLE OF ECONOMETRIC MODELS IN STRATEGIC DECISION-MAKING AT ENTERPRISES

Introduction. In modern conditions, the basis of enterprise management is flexible strategic planning that takes into account uncertainties and variations in global and national development. Forecasting in the context of improving the economic development of an enterprise is an important factor in shaping the strategy and tactics of development in the future. The strategic development of an enterprise often depends on the level of development of economic and mathematical tools. The peculiarity of using such econometric models is that, on the one hand, they should be as accurate as possible, and on the other hand, they should take into account many different market indicators that affect the activities of large economies and large private companies. Therefore, modern business management is impossible without the introduction of multivariate economic forecasting models. However, the use of econometric models has its own peculiarities and possibilities in terms of processing and obtaining statistical information in the process of making strategic decisions. Purpose. The purpose of this study is to identify a conceptual approach to the use of econometric models in theoretical and applied research in the preparation and adoption of strategic decisions in firms. Materials and methods. The research material includes works by national and international authors who have conducted scientific and practical research in the field of econometric analysis, especially in its application to strategic decision making in business. The proposed studies use general scientific research methods in the social sciences. The method of scientific literature review was used, which includes the analysis of existing theoretical and empirical studies on the use of econometric models in management. The method of institutional analysis was used to study the role of econometric models in strategic decision-making in firms and their impact on the efficiency of firm management and to logically summarize the results (formulate conclusions). Results. This paper clarifies the nature of econometric modeling, one of the most common methods for making strategic managerial decisions. Determine the characteristics and conditions for using econometric models for the preparation and adoption of appropriate managerial decisions. Consider the main reasons for using econometric methods and models to make managerial decisions in the context of digital transformation of economic systems. Determine the main advantages of using quantitative methods of data analysis, in particular regression models, time series analysis, and stochastic process analysis, for forecasting economic indicators and optimal indicators. Identify the characteristics that determine the efficiency of econometric models and their application under different conditions. The implementation of these methods in theoretical and applied research will yield appropriate results only if the conceptual and methodological requirements for their use are met. The use of econometric models in economics allows us to formally identify and describe the most important and significant relationships between economic variables and subjects, and to gain new knowledge about the subject inductively. Econometric models have been shown to significantly improve the efficiency of business decisions by providing more accurate forecasts of market trends, quicker responses to market changes, and risk mitigation. Key aspects of the use of econometric models in decision making have been substantiated because they can analyze data, predict future trends, and assess the impact of various factors on business performance.