INTEGRATING BSC - DEA APPROACH AND ARTIFICIAL INTELLIGENCE IN INNOVATION MANAGEMENT

Innovation is a key factor for maintaining competitiveness in today's dynamic environment. Innovation-focused management tools, such as the Balanced Scorecard (BSC) and Data Envelopment Analysis (DEA), play a crucial role in this process. BSC provides a comprehensive overview of a company's performance through a balanced set of indicators focused on both financial and non-financial aspects. In contrast, DEA enables the evaluation of the efficiency of individual units within an organization, identifying areas for improvement. Integrating these two approaches into a single BSC-DEA framework creates synergies that enhance strategic decision-making and operational efficiency. Artificial Intelligence (AI) adds another dimension by enabling advanced data analysis and process automation, further increasing the accuracy and speed of decision-making. This combination represents an innovative management approach that allows companies to better respond to rapid changes in the business environment.

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Publication Details

Journal
MM Science Journal
Published
2024-09-16
DOI
https://doi.org/10.17973/mmsj.2024_10_2024051
Citations
1
Primary Topic
Big Data and Business Intelligence
Type
article
Field-Weighted Citation Impact
0.53
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article

INTEGRATING BSC - DEA APPROACH AND ARTIFICIAL INTELLIGENCE IN INNOVATION MANAGEMENT

Jaroslava Kádárová, Michaela Kočišová, Milan Fiľo, Alžbeta Suhányiová
1 citations
MM Science Journal
Big Data and Business Intelligence
0.53
article

INTEGRATING BSC - DEA APPROACH AND ARTIFICIAL INTELLIGENCE IN INNOVATION MANAGEMENT

Jaroslava Kádárová, Michaela Kočišová, Milan Fiľo, Alžbeta Suhányiová
article en
1 citations

Abstract

Innovation is a key factor for maintaining competitiveness in today's dynamic environment. Innovation-focused management tools, such as the Balanced Scorecard (BSC) and Data Envelopment Analysis (DEA), play a crucial role in this process. BSC provides a comprehensive overview of a company's performance through a balanced set of indicators focused on both financial and non-financial aspects. In contrast, DEA enables the evaluation of the efficiency of individual units within an organization, identifying areas for improvement. Integrating these two approaches into a single BSC-DEA framework creates synergies that enhance strategic decision-making and operational efficiency. Artificial Intelligence (AI) adds another dimension by enabling advanced data analysis and process automation, further increasing the accuracy and speed of decision-making. This combination represents an innovative management approach that allows companies to better respond to rapid changes in the business environment.

MM Science JournalVol. 2024(4)
Openalex Percentile: Top 26%
Big Data and Business Intelligence
0.53
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