Harnessing Data Analytics for Enhanced Decision-Making in Business Operations

Businesses are using data analytics more and more in the age of digital transformation to inform strategic choices and maximize operational effectiveness. The goal of this research study is to improve decision-making processes in corporate operations via the integration of modern data analytics approaches. Through the analysis of case studies from a range of sectors, we demonstrate how essential data analytics is for seeing patterns, projecting results, and gaining useful knowledge. As we explore data collecting, processing, and analysis techniques, highlighting the significance of data integrity and quality. The use of artificial intelligence (AI) technologies and machine learning algorithms to automate decision-making, lower human error, and speed up company procedures is also covered in the article. The essential elements-organizational culture, technology infrastructure, and workforce competencies, among others-that make up effective data analytics efforts via a thorough literature research and practical analysis. Based on the results, companies who use data analytics well may enhance their agility in adapting to market changes and get a competitive advantage. Data privacy, security, and prejudice are among the ethical issues and concerns related to data analytics that are finally covered in this study. Businesses may handle these obstacles and optimize the advantages of data- driven decision-making by following the recommendations given.

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Publication Details

Published
2024-11-13
DOI
https://doi.org/10.1109/ictacs62700.2024.10840918
Primary Topic
Big Data and Business Intelligence
Type
article
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Harnessing Data Analytics for Enhanced Decision-Making in Business Operations

Ajatray Swagat Bhuyan, Gauri Deshpande, Ritu Ritu, Savita Gehlawat et al.
Big Data and Business Intelligence
article

Harnessing Data Analytics for Enhanced Decision-Making in Business Operations

Ajatray Swagat Bhuyan, Gauri Deshpande, Ritu Ritu, Savita Gehlawat, Aarti Pardeshi
article en

Abstract

Businesses are using data analytics more and more in the age of digital transformation to inform strategic choices and maximize operational effectiveness. The goal of this research study is to improve decision-making processes in corporate operations via the integration of modern data analytics approaches. Through the analysis of case studies from a range of sectors, we demonstrate how essential data analytics is for seeing patterns, projecting results, and gaining useful knowledge. As we explore data collecting, processing, and analysis techniques, highlighting the significance of data integrity and quality. The use of artificial intelligence (AI) technologies and machine learning algorithms to automate decision-making, lower human error, and speed up company procedures is also covered in the article. The essential elements-organizational culture, technology infrastructure, and workforce competencies, among others-that make up effective data analytics efforts via a thorough literature research and practical analysis. Based on the results, companies who use data analytics well may enhance their agility in adapting to market changes and get a competitive advantage. Data privacy, security, and prejudice are among the ethical issues and concerns related to data analytics that are finally covered in this study. Businesses may handle these obstacles and optimize the advantages of data- driven decision-making by following the recommendations given.

Chandigarh University (IN)
Peace, Justice and strong institutions
Openalex Percentile: Top 59%
Big Data and Business Intelligence
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