Business Analytics as a Catalyst of Innovation in Digital Commerce
TL;DR
The paper shows that businesses that build analytic tools into their managerial skill, data-driven culture, and agile processes are in a better position to sense and respond to market changes as well as to reconfigure their operations and launch new offerings in competitive digital-world settings.
Abstract
This paper discusses how business analytics capabilities can lead to innovation in digital commerce firms by turning data into actionable insights for strategic and operational decisions. By relying on secondary evidence published in articles, the findings analyze the use of descriptive, predictive, and prescriptive analytics for identifying opportunities, improving products and services, process optimization, and designing the customer experience. The paper shows that businesses that build analytic tools into their managerial skill, data-driven culture, and agile processes are in a better position to sense and respond to market changes as well as to reconfigure their operations and launch new offerings in competitive digital-world settings. The study concluded that business analytics should not just be treated as a technical function, but as a core innovation capability. The article further provides practical implications for digital commerce organizations to institutionalize data-driven innovation.