The Innovative Model for the Formation of a Database Used to Assess a System of Economic Security of Retail Companies

Abstract

The article highlights topicality of an issue related to assessing economic security of retail companies, which face hazards and threats under contemporary unstable economic conditions, for making decisions concerning ensuring a high level of the economic security, efficiency, and sustainable development of a company in general. The authors have developed a model of forming a database for assessing economic security of retail companies using mathematical modelling in order to avoid difficulties in the process of forming the database. Application of mathematical methods enables to create the more informative database, which will be used to conduct a more thorough analysis. This allows to make effective managerial decisions regarding ensuring a high level of economic security of a retail company. A methodical tool of M. Pohozhykh and M. Safronova underlies the model of forming the database for assessing economic security of a retail company applying methods of mathematical modelling. The methodical tool consists in modelling an n-dimensional geometric shape, namely a n- dimensional parallelepiped, taking into account properties of the Euclidean space. The model of forming the database for conducting an assessment is an outcome of the scientific research.