糖心原创

Home⇛International Journal of Multidisciplinary: Applied Business and Education Research⇛vol. 5 no. 10 (2024)

Leveraging Business Analytics for Enhanced Decision-Making: Navigating Challenges and Exploiting Opportunities

Muhammad Ahmad Mazher | Yasotha Nair Tramankuti

Discipline: business and management

 

Abstract:

Business analytics (BA) is revolutionizing how businesses use data to gain a competitive advantage. It offers opportunities for deeper cus-tomer insights, targeted marketing campaigns, improved customer sat-isfaction, new product and service opportunities, and optimized busi-ness processes. However, challenges like data quality, talent acquisition, and ethical considerations exist. This study reviews BA literature and discusses the challenges faced by organizations in implementing busi-ness analytics, including data availability, quality, skills and training, and technology infrastructure considerations. We conducted a study on 133 analytics professionals in Lahore, Pakistan. Data availability and quality, skills and training, and technology infrastructure all had a posi-tive and significant impact on business analytics challenges and oppor-tunities. The findings aim to contribute to a better understanding of business analytics, implementation challenges, and opportunities.



References:

  1. Ahmed, Z., & Ji, S. (2013). Business Analytics: Current State & Challenges. CONF-IRM 2013 Proceedings.
  2. Akhmetova, S. G., & Nevskaya, L. V. (2020). HR Analytics: Challenges and Opportunities in Russian Companies. Proceedings of the “New Silk Road: Business Cooperation and Prospective of Economic Development” (NSRBCPED 2019). “New Silk Road: Busi-ness Cooperation and Prospective of Economic Development” (NSRBCPED 2019), St. Petersburg, Russia; Prague, Czech Republic.
  3. Amalina, F., Targio Hashem, I. A., Azizul, Z. H., Fong, A. T., Firdaus, A., Imran, M., & Anuar, N. B. (2020). Blending Big Data Analytics: Review on Challenges and a Recent Study. IEEE Access, 8, 3629–3645.
  4. Ashrafi, A., Zare Ravasan, A., Trkman, P., & Afshari, S. (2019). The role of business analytics capabilities in bolstering firms’ agility and performance. International Journal of Information Management, 47, 1–15.
  5. Attaran, M., & Attaran, S. (2018). Opportunities and Challenges of Implementing Predic-tive Analytics for Competitive Advantage. International Journal of Business Intelli-gence Research, 9, 1–26.
  6. Baumann, B. (2024, February 1). 5 Challenges Of Implementing Business Analytics.
  7. Boyd, A. (2012, August 6). Revisiting ‘what is analytics’ | Analytics Magazine [A. E. (2012, August 6). Revisiting ‘what is ana-lytics’. Analytics Magazine.
  8. Cao, G., Tian, N., & Blankson, C. (2021). Big Da-ta, Marketing Analytics, and Firm Market-ing Capabilities. Journal of Computer In-formation Systems, 62(3), 442–451.
  9. Chen, J., & Shen, L. (2024). A Synthetic Review on Enterprise Digital Transformation: A Bibliometric Analysis. Sustainability, 16(5), Article 5.
  10. Cosic, R., Shanks, G., & Maynard, S. (2012). Towards a business analytics capability maturity model. 1–11.
  11. Dai, H.-N., Wang, H., Xu, G., Wan, J., & Imran, M. (2020). Big data analytics for manufac-turing internet of things: Opportunities, challenges and enabling technologies. En-terprise Information Systems, 14(9–10), 1279–1303.
  12. Delen, D., & Ram, S. (2018). Research chal-lenges and opportunities in business ana-lytics. Journal of Business Analytics, 1(1), 2–12.
  13. 13.`Duan, L., & Xiong, Y. (2015). Big data analytics and business analytics. Journal of Man-agement Analytics, 2, 1–21.
  14. Earley, C. E. (2015). Data analytics in auditing: Opportunities and challenges. Business Horizons, 58(5), 493–500. https://doi.org/10.1016/j.bushor.2015.05.002
  15. Feki, M., Boughzala, I., & Fosso Wamba, S. (2016). Big Data Analytics-enabled Sup-ply Chain Transformation: A Literature Review.
  16. Grover, V., Chiang, R., Liang, T.-P., & Zhang, D. (2018). Creating Strategic Business Value from Big Data Analytics: A Research Framework. Journal of Management In-formation Systems, 35, 388–423.
  17. Haas, P. J., Maglio, P. P., Selinger, P. G., & Tan, W.-C. (2011). Data is dead... Without what-if models. Proceedings of the VLDB Endowment, 4(12), 1486–1489.
  18. Hamilton, R. H., & Sodeman, W. A. (2020). The questions we ask: Opportunities and chal-lenges for using big data analytics to stra-tegically manage human capital re-sources. Business Horizons, 63(1), 85–95.
  19. I艧谋k, Ö., Jones, M. C., & Sidorova, A. (2013). Business intelligence success: The roles of BI capabilities and decision environ-ments. Information & Management, 50(1), 13–23.
  20. Kash, B. A., Spaulding, A., Gamm, L. D., & John-son, C. (2014). Leadership, culture, and organizational technologies as absorptive capacity for innovation and transfor-mation in the healthcare sector: A framework for research. Change Man-agement, 13(1), 1–13.
  21. Krishnamoorthi, S., & Mathew, S. K. (2018). Business analytics and business value: A comparative case study. Information & Management, 55(5), 643–666.
  22. Kumar, A., & Krishnamoorthy, B. (2020). Busi-ness Analytics Adoption in Firms: A Quali-tative Study Elaborating TOE Framework in India. International Journal of Global Business and Competitiveness, 15.
  23. Lee, C. S., Cheang, P. Y. S., & Moslehpour, M. (2022). Predictive Analytics in Business Analytics: Decision Tree. Advances in De-cision Sciences, 26(1), 1–30.
  24. Lennerholt, C., Van Laere, J., & Söderström, E. (2018). Implementation Challenges of Self Service Business Intelligence: A Literature Review. Hawaii International Conference on System Sciences.
  25. Liu, Yi., Han, H., & DeBello, J. (2018). The Chal-lenges of Business Analytics: Successes and Failures. Hawaii International Conference on System Sciences.
  26. Manyika, J. (2017). AI, AUTOMATION, EM-PLOYMENT, AND PRODUCTIVITY.
  27. Marshall, A., Mueck, S., & Shockley, R. (2015). How leading organizations use big data and analytics to innovate. Strategy & Leadership, 43, 32–39.
  28. McAfee, A., & Brynjolfsson, E. (2012). Big Da-ta: The Management Revolution.
  29. Omar, Y. M., Minoufekr, M., & Plapper, P. (2019). Business analytics in manufactur-ing: Current trends, challenges and path-way to market leadership. Operations Re-search Perspectives, 6, 100127.
  30. Power, D. J., Heavin, C., McDermott, J., & Daly, M. (2018). Defining business analytics: An empirical approach. Journal of Business Analytics, 1(1), 40–53.
  31. Ramanathan, R., Philpott, E., Duan, Y., & Cao, G. (2017). Adoption of business analytics and impact on performance: A qualitative study in retail. Production Planning & Control, 28(11–12), 985–998.
  32. Saghafian, M., Laumann, K., & Skogstad, M. R. (2021). Stagewise Overview of Issues In-fluencing Organizational Technology Adoption and Use. Frontiers in Psycholo-gy, 12.
  33. Sakib, Md. N. (2022). Role of Big Data in Achieving Competitive Advantage (pp. 137–145).
  34. Sarker, I. H. (2021). Data Science and Analyt-ics: An Overview from Data-Driven Smart Computing, Decision-Making and Appli-cations Perspective. SN Computer Sci-ence, 2(5), 377.
  35. Shanks, G., & Bekmamedova, N. (2012). Achieving benefits with business analyt-ics systems: An evolutionary process per-spective. Journal of Decision Systems, 21(3), 231–244.
  36. Trkman, P. (2010). The critical success factors of business process management. Inter-national Journal of Information Manage-ment, 30(2), 125–134.
  37. Ukhalkar, P., & Bhosale, M. (2020). The role of Big data in enhancing business value through Business Intelligence and Big Da-ta Analytics. 68, 83–91.
  38. Vassakis, K., Petrakis, E., & Kopanakis, I. (2018). Big Data Analytics: Applications, Prospects and Challenges. In G. Skourletopoulos, G. Mastorakis, C. X. Mavromoustakis, C. Dobre, & E. Pallis (Eds.), Mobile Big Data (Vol. 10, pp. 3–20). Springer International Publishing.
  39. Vidgen, R., Hindle, G., & Randolph, I. (2020). Exploring the ethical implications of business analytics with a business ethics canvas. European Journal of Operational Research, 281(3), 491–501.
  40. Wang, Z., Wang, N., Su, X., & Ge, S. (2020). An empirical study on business analytics af-fordances enhancing the management of cloud computing data security. Interna-tional Journal of Information Manage-ment, 50, 387–394.
  41. Whitelock, V. (2018). Business analytics and firm performance: Role of structured fi-nancial statement data. Journal of Busi-ness Analytics, 1(2), 81–92.
  42. Wilder, C. R., & Ozgur, C. O. (2015). Business Analytics Curriculum for Undergraduate
    1. Majors. INFORMS Transactions on Educa-tion, 15(2), 180–187.
  43. Zikopoulos, P., & Eaton, C. (2012). Understand-ing Big Data: Analytics for Enterprise Class Hadoop and Streaming Data. McGraw Hill Professional.

 

 


Tools


Copyright © 2026  糖心原创 Exclusively distributed by