Business Analytics: A Perspective

Abstract

Awareness to the relevance of Business Analytics in identification of product attributes is considered significant by the market, relevance of Business Analytics in assessing factors leading to customer satisfaction, relevance of Business Analytics in Market segmentation, Market performance, relevance of Business Analytics in Finance applications and in Human Resources applications. Also a seventh construct was considered capturing the keenness of managers to incorporate Business Analytics in their company operations. Using the last construct as grouping variable, Analysis of Variance, ANOVA, was applied to assess which of the first six constructs significantly led to managers’ keenness to incorporate Business Analytics in their company operations. The empirical study concluded that out of the six awareness constructs, awareness was already significant for Identification of product attributes, market segmentation issues and customer satisfaction. However, for the other three constructs, awareness was not yet significant. From the ANOVA one may conclude that awareness to: (a) Market segmentation, (b) market performance and (c) HR applications would highly significantly (2% level of significance) lead managers to incorporate Business Analytics in their company operations. The three other awareness constructs, product attributes, finance and H.R. applications do not yet lead to the keenness of managers to incorporate Business Analytics in their company operations at such high degree of confidence.

Keywords: Business Analytics, Managerial Decision Making

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