Recognition of information patterns and key factors for decision making in sustainable development in Lithuania

Abstract

Description of urban development could be explained like common endeavours of society to coordinate economical growth and social progress, to save usage of non-renewable resources, without threat of ecological balance. This process consists of four main elements: health environment, lively economics, social welfare and active community of a city or region. In the light of these attitudes of sustainable development researches have raised the purpose to determine the possibilities of sustainable development of regions in Lithuania, at the same time evaluating various factors that influence the extends of investments in different Lithuanian districts and regions. Investments are understood as one of the underlying indicators of economical development. The sustainable development of towns and regions is closely related with investment in tangible fixed assets as well as direct foreign investment. The discovery of investment patterns deals with a set of information in space and time, a complex structure of interdependencies and uneven non-linear investment distribution. This paper describes an approach for recognition of investment information patterns and the main factors that have a distinct influence to investment. With multiple statistical methods we develop a decision support system based on real data of social-economic indicators. The proposed multiple regression model allow to evaluate, forecast and establish the favourable conditions for investment and develop the strategies for cohesive development of regions. We demonstrate an application of the model using a database of economic and social development of regions of Lithuania. Our approach effectively recovers the structure of investment and enables forecast. [...].