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Analytics Techniques: Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics

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Decision Intelligence Analytics and the Implementation of Strategic Business Management

Abstract

Strategic business management focuses on setting goals, surveying the competitive surroundings, organization internal operation, assessing strategic planning, and making sure that management spreads out the strategic planning across the organization through wise decision-making processes. Decision intelligence is a new buzzword that acts as a better framework for decision-making models. Organizations often have to make firm decisions for better efficiency, threat management, and profits. In addition, the amalgamation of a growing complex world and the desire to spread data extensively and to gain competitive edge over competitors have now led organizations to concentrate on applying analytics to operate strategic business decisions. Analytics can assist businesses not only in making better strategic decisions but also in attaining good functional efficiency, higher customer satisfaction, and robust profit and revenue levels. With various analytics available in the market like descriptive, predictive, and prescriptive each having the ability to use the data to answer different questions, it is necessary to explore these analytics and their applicability in strategic business management. In light of the above, this chapter discusses the available analytics in context with the decision intelligence analytics with the implementation of strategic business management.

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Sharma, A.K., Sharma, D.M., Purohit, N., Rout, S.K., Sharma, S.A. (2022). Analytics Techniques: Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics. In: Jeyanthi, P.M., Choudhury, T., Hack-Polay, D., Singh, T.P., Abujar, S. (eds) Decision Intelligence Analytics and the Implementation of Strategic Business Management. EAI/Springer Innovations in Communication and Computing. Springer, Cham. https://doi.org/10.1007/978-3-030-82763-2_1

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  • DOI: https://doi.org/10.1007/978-3-030-82763-2_1

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