INNOVATIONS IN BUSINESS MODELS THROUGH STRATEGIC ANALYTICS AND MANAGEMENT: CONCEPTUAL EXPLORATION FOR SUSTAINABLE GROWTH

Authors

  • Nneka Adaobi Ochuba Independent Researcher, UK
  • Favour Oluwadamilare Usman Hult International Business School, USA
  • Olukunle Oladipupo Amoo Department of Cyebersecurity, University of Nebraska, USA
  • Enyinaya Stefano Okafor Independent Researcher, Phoenix Arizona, USA
  • Olatunji Akinrinola Independent Researcher, New York, USA

DOI:

https://doi.org/10.51594/ijmer.v6i3.844

Abstract

In today's rapidly evolving business landscape, the integration of strategic analytics and management practices has become increasingly crucial for organizations seeking sustainable growth and competitive advantage. This paper aims to explore the concept of leveraging strategic analytics within business models to drive innovation and foster sustainable growth. The modern business environment is characterized by unprecedented levels of complexity, volatility, and uncertainty. Globalization, technological advancements, and shifting consumer preferences have disrupted traditional business models, compelling organizations to adapt or risk obsolescence. In this context, strategic analytics emerges as a powerful tool for organizations to navigate uncertainty, mitigate risks, and capitalize on emerging opportunities. Strategic analytics involves the systematic collection, processing, and analysis of data to inform decision-making processes and drive strategic initiatives. By leveraging advanced analytical techniques such as predictive modeling, machine learning, and data mining, organizations can gain actionable insights into various aspects of their operations, including customer behavior, market trends, and competitive dynamics. By leveraging advanced analytical techniques, organizations can gain a deeper understanding of customer needs, optimize internal processes, and anticipate changes in the competitive landscape. This enables organizations to drive innovation, foster sustainable growth, and create value for customers, shareholders, and society as a whole. Through a conceptual exploration, we examine the fundamental principles, challenges, and opportunities associated with integrating strategic analytics into various facets of business models. Drawing upon theoretical frameworks and empirical evidence, this paper elucidates the transformative potential of strategic analytics in reshaping traditional business models and creating new avenues for value creation. Furthermore, we discuss the implications for managers, policymakers, and researchers, highlighting the imperative of embracing strategic analytics as a cornerstone for driving organizational success in the digital age.

Keywords: Business, Model Innovation, Sustainable Growth, Management, Strategic Analytics.

Published

2024-03-07

Issue

Section

Articles