Decision-Making and Business Value
By merging data analytics and competitive advantage-focused strategies, businesses can leverage their monumental data assets to provide organisations with new ways of cost-cutting and identifying new innovation opportunities. However, if the majority of organisations are now leveraging data analytics to support decision-making, critically evaluate what are the key differentiation factors for organisation to truly exploit analytics as a competitive advantage.
In addition, explain the key benefits and risks of
using analytics as a means of competitive advantage. Present some recommendations on how organisations can drive business value from analytics to guide decision-making. You are required to carry out research and provide examples and references to real-world cases and other articles to support your answer where appropriate.
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