International Journal of

ADVANCED AND APPLIED SCIENCES

EISSN: 2313-3724, Print ISSN: 2313-626X

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 Volume 11, Issue 1 (January 2024), Pages: 87-94

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 Original Research Paper

The significance and application of data analytics models for strategic management

 Author(s): 

 Muhammad Ramzan *

 Affiliation(s):

 College of Computing and Informatics, Saudi Electronic University, Riyadh, Saudi Arabia

 Full text

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 * Corresponding Author. 

  Corresponding author's ORCID profile: https://orcid.org/0000-0002-2982-5052

 Digital Object Identifier (DOI)

 https://doi.org/10.21833/ijaas.2024.01.010

 Abstract

In today's global landscape, the survival and success of organizations depend significantly on the effective use of their data assets for informed strategic decision-making. The exponential proliferation of data and its multiple uses present profound challenges and opportunities. Proficient management, processing, and use of this vast reservoir of data have emerged as a paramount concern in today's world. At the same time, the wise application of data analytics techniques and frameworks offers compelling strategic advantages. Identifying and deploying the most relevant data analytics methodologies within the realm of strategic management presents a formidable challenge for senior executives. This study examines the central role of data analytics in strategic decision-making and explores how organizations can leverage it to gain a competitive advantage. In addition, the research examines recent literature that sheds light on the various dimensions of integrating data analytics into strategic management. The study also provides selected illustrative use cases and instances of strategic management at the corporate, business, and functional levels. In particular, it presents a spectrum of both quantitative and qualitative data analysis techniques to underscore the availability of frameworks that facilitate the integration of data analysis into strategic management and decision-making processes.

 © 2023 The Authors. Published by IASE.

 This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

 Keywords

 Data analytics, Strategic decision-making, Competitive advantage, Data analysis techniques, Strategic management

 Article history

 Received 18 July 2023, Received in revised form 9 December 2023, Accepted 25 December 2023

 Acknowledgment 

No Acknowledgment.

 Compliance with ethical standards

 Conflict of interest: The author(s) declared no potential conflicts of interest with respect to the research, authorship, and/or publication of this article.

 Citation:

 Ramzan M (2024). The significance and application of data analytics models for strategic management. International Journal of Advanced and Applied Sciences, 11(1): 87-94

 Permanent Link to this page

 Figures

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