Leveraging Artificial Intelligence in Business Analytics for Informed Strategic Decision-Making: Enhancing Operational Efficiency, Market Insights, and Competitive Advantage
Year: 2024
Type: article
Abstract: In recent years, Artificial Intelligence (AI) has emerged as a transformative force in business analytics, enabling organizations to make more informed, data-driven strategic decisions. This paper explores the integration of AI in business analytics and its impact on enhancing operational efficiency, gaining market insights, and securing a competitive advantage. AI technologies like machine learning and natural language processing have revolutionized how businesses collect, analyze, and leverage data to optimize decision-making processes. By automating routine tasks and providing predictive and prescriptive insights, AI helps organizations streamline operations, understand customer behaviour, and stay ahead of market trends. However, adopting AI in business analytics also presents challenges related to data privacy, algorithmic bias, and system integration. This article discusses these challenges and provides recommendations for businesses seeking to effectively integrate AI into their strategic decision-making processes. Ultimately, AI is reshaping business operations and offering a new paradigm for making informed decisions that drive long-term growth and success.
Author: SM Tamim Hossain Rimon
Institution: Qatar University
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405416309