Business Analytics as a Strategic Tool for Marketing Decision-Making and Competitive Advantage
DOI:
https://doi.org/10.64882/ijrt.v13.i2.763Keywords:
Business Analytics, Marketing Decision-Making, Competitive Advantage, Data-Driven Marketing, Strategic ManagementAbstract
Organizations in the modern business world are in extremely competitive, dynamite and data-driven markets. The classical marketing decision making that mainly depended on intuition and previous experience is no longer adequate to counter the fast evolving consumer tastes and preferences, technological shocks and competition in the world market place. Business Analytics has become an influential strategic instrument, which allows companies to turn big amounts of organized and unstructured data into valuable insights, which can be utilized to make appropriate marketing decisions. This paper discusses the use of Business Analytics in the improvement of marketing strategies and sustainable competitive advantage development. It discusses the use of analytical tools to facilitate market segmentation, customer targeting, demand forecasting, pricing decisions, campaign optimization and customer relationship management. Organizations can enhance the accuracy of decisions, decrease uncertainty, allocate resources and customer value through the integration of descriptive, predictive, and prescriptive analytics in the marketing functions. The research findings are that Business Analytics is not only an assistance technology system but a strategic potential that leads to innovation, responsiveness, and long-term competitiveness in contemporary marketing.
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