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Competing on Performance on the Global Marketplace: Applying Business Analytics as a Robust Decision Tool
Abstract
Globalization has triggered many new ways for companies to improve their business performance and stay competitive in the marketplace. Initially most companies strengthen their capability and competence towards developing competitive differentiation through continuous innovation to stay competitive and build sustainable brand image for their products and services. Over the mid-twentieth century, the information technology has made manifold advance proving scope for the companies to access the market information, carry out data analytics to meet their corporate requirements, and to derive right business decision for developing right competitive strategies. Accordingly, the new approaches of decision support systems have emerged and companies are interestingly adapting to the new environment of information analysis. The Big Data, business analytics, and business intelligence approaches have enveloped the business-to-business and business-to-customer industries as a strong decision making tool of the twenty-first century. This chapter discusses the state-of-art approaches and their impact on market competitiveness of the companies.
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