An Examination of the Role of Business Analytics in Strategic Decision-Making: A Study of Multinational Firms in Kebbi State
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- NGN 5000
Background of the Study
Business analytics (BA) is a critical tool for strategic decision-making, enabling organizations to derive actionable insights from data and enhance competitive advantage. BA combines statistical analysis, predictive modeling, and optimization techniques to inform decisions related to market trends, resource allocation, and risk management (McKinsey & Company, 2024).
In Kebbi State, multinational firms operate in industries characterized by dynamic market conditions and increasing competition. Leveraging BA allows these firms to navigate uncertainties, improve operational efficiency, and achieve long-term goals. Despite its benefits, the integration of BA in strategic planning among multinational firms in the state remains underexplored. This study examines the role of BA in shaping strategic decision-making processes in these firms.
Statement of the Problem
Strategic decision-making in multinational firms in Kebbi State is often challenged by rapidly changing market dynamics, insufficient data utilization, and a lack of evidence-based approaches. While business analytics provides a structured framework for informed decision-making, its application in these firms is inconsistent due to technical, financial, and organizational barriers (Ajayi & Okonkwo, 2024). This study investigates the extent to which BA is utilized in strategic decision-making and identifies factors influencing its adoption.
Objectives of the Study
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To evaluate the adoption level of business analytics in strategic decision-making among multinational firms in Kebbi State.
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To assess the impact of business analytics on the effectiveness of strategic decisions.
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To identify challenges multinational firms face in implementing business analytics tools.
Research Questions
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What is the adoption level of business analytics in multinational firms in Kebbi State?
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How does business analytics influence the effectiveness of strategic decision-making?
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What challenges hinder the implementation of business analytics in multinational firms?
Research Hypotheses
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There is no significant relationship between business analytics adoption and the effectiveness of strategic decision-making.
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Business analytics does not significantly influence strategic decision-making in multinational firms.
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The challenges of implementing business analytics are not significant in multinational firms.
Scope and Limitations of the Study
The study focuses on multinational firms operating in Kebbi State, assessing their use of business analytics in strategic decision-making. Limitations include varying levels of technological maturity and access to proprietary data within the firms.
Definitions of Terms
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Business Analytics (BA): The process of using data, statistical analysis, and predictive modeling to support decision-making.
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Strategic Decision-Making: The process of making long-term, impactful decisions that guide an organization’s direction.
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Multinational Firms: Companies that operate in multiple countries, including Kebbi State.
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