Strategic Data Analytics for Sustainable Competitive Advantage

Title

Strategic Data Analytics for Sustainable Competitive Advantage

Creator

Nagarathinam A.; Chellasamy A.; Rangasamy S.

Description

Data and analytics have become major assets for all organizations to leverage into superior strategic positions in this cut-throat competitive world with buzzwords like data crunch, metrics, and dark data. This chapter discusses the structural and economic reasons of why business analytics is necessary for organizations. The ability to collect different resources and entities such as talent, process, data, and information technology to bring out a valuable output is crucial for business analytics success. The most common difficulty of big data begins when organizations are in the journey of business analytics. Since a number of organizations are still in the baby steps of basic, tackling data challenges is humongous for them. This situation calls for the need to foster a business analytics ecosystem by every organization. This paper discusses how optimizing analytics could lead to a sustainable competitive advantage, building data strategy, and setting Key Performance Indicators (KPI) for business analytics. The chapter further explores how analytics is used across business domains and the challenges in crafting a business analytics strategy. The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024.

Source

Data-Driven Decision Making, pp. 77-106.

Date

2024-01-01

Publisher

Springer Nature

Subject

Analytics; Big data; Competitive advantage; Data; Strategy

Coverage

Nagarathinam A., CHRIST University, Bangalore, India; Chellasamy A., CHRIST University, Bangalore, India; Rangasamy S., CHRIST University, Bangalore, India

Rights

Restricted Access

Relation

ISBN: 978-981972902-9; 978-981972901-2

Format

Online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.1007/978-981-97-2902-9_4

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85205571082&doi=10.1007%2f978-981-97-2902-9_4&partnerID=40&md5=a26ada11db93a94e64897ffa491b53ff