Empowering the Circular Economy in Albania through Big Data Analytics: Opportunities, Case Studies, and Regional Insights

Abstract

The adoption of a circular economy, which is defined by the concepts of reduction, reuse, and recycling, is essential for achieving sustainable development. Big data analytics is becoming a powerful tool in this transformation, providing outstanding knowledge into optimizing resources, managing waste, and implementing sustainable practices in many industries. This article examines the use of big data analytics to promote the circular economy in Albania, a country facing distinct problems and opportunities in the Western Balkans region. The study conducts a thorough examination of big data methods, including data mining, machine learning, and predictive analytics. It suggests specific sectors, such as manufacturing, healthcare, waste management, agriculture, and tourism, as areas where intervention should be focused. The article showcases three case studies that demonstrate the successful incorporation of big data analytics into circular economy plans, drawing on international best practices. Moreover, it examines the present condition and future prospects of Albania and the Western Balkans in embracing new technologies, relying on existing secondary data and success stories from the region. The results indicate that Albania has considerable potential to utilize big data analytics in promoting a more sustainable and efficient economy. Additionally, recommendations are provided for policy makers, industry leaders, and academic stakeholders to effectively address the difficulties associated with this revolutionary process.