Impact of data-driven decision-making on business performance.
In the age of digitisation and globalisation, businesses (banking, insurance, healthcare, etc.) have shifted online. These businesses utilise technological means to research their business partners, monitor and predict risks, launch new services, recruit the essential technically skilled staff on board, for the organisational growth. In recent times, many of these organisations have embarked on big data and business analytics (BA) projects for faster and effective decision making, bring new offerings to their customers and enhance the internal operational processes. However, as described in the literature and research, both big data and business analytics have limitations.
Incorrect implementation of these technologies could result in the waste of investments and resources, instead of simplification they might cause complexity, forecast incorrect decisions, and a solution that worked out for one firm might not work out for the others. Hence, it's necessary to comprehend the business environment and discover matching BDA solutions. Therefore, the research aims to investigate the challenges encountered to adopt BDA and the success rate of the organisational performance after implementing BA solutions.
Supriya Shinde is a first-year PhD student in the School of Business and Management at the Queen Mary University of London. She holds an MSc in International Management from the Roehampton University, London; and a B.E. in Electronics and Telecommunication Engineering from the Mumbai University, India. She has a work experience of 5-years with Tata Consultancy Services, Mumbai.