Sustained business competitive advantage with data analytics. (27th March 2019)

• Record Type: Journal Article
• Authors: Garg, Adarsh; Goyal, D.P.
• Is Part Of: International journal of business and data analytics. Volume 1:Number 1(2019)
• Page Start: 4
• Page End: 15
• Publication Date: 2019-03-27
• Subjects: data analytics -- competitive advantage -- sustainability -- technology; Commercial statistics -- Data processing -- Periodicals; Industrial management -- Mathematical models -- Periodicals; Business -- Mathematical models -- Periodicals; Management -- Statistical methods -- Periodicals; Business -- Research -- Periodicals; 658.403
• Languages: English
• ISSNs: 2515-9100

Abstract

In today's highly networked and digital business, data is the only gold element with extensive capability to create business value which we have never seen in the traditionally executed business. This new business world is stimulated by analytics and its ability to make the most of data for sustained competitive advantage. The organisations need to adapt new technologies to prevent the wearing out of the existing knowledge and sustain competitively for a long period according to the increasing customer demands. Analytics has the power to forecast future happenings based on some data which is available to the organisation, so making use of the data with analytics. However, new technology, here data analytics, alone will be of little use if the strategic managers lack to understand the business context in which the forecasted knowledge is useful and help in sustained competitive advantage. A strong framework needs to be in place to integrate analytics with the knowledge base of the organisation along with skilled managers. This research paper is an attempt to provide a theoretical framework and its empirical analysis to apply analytics effectively so as to remove uncertainties in business for its sustainability.