Background of the Study
Data-driven decision-making has transformed the way businesses identify opportunities for expansion. By utilizing insights derived from data analysis, corporate firms can assess market trends, customer preferences, and competitive dynamics to inform strategic planning (Eze & Musa, 2024).
In Taraba State, where many businesses face challenges such as limited market data and resource constraints, leveraging data-driven insights offers a pathway to sustainable growth. This study critically examines how corporate firms in Taraba State use data-driven insights to drive business expansion, highlighting successes, challenges, and areas for improvement.
Statement of the Problem
Despite the global recognition of data-driven decision-making as a catalyst for business expansion, many corporate firms in Taraba State lack the infrastructure and expertise needed to fully utilize these insights. Challenges such as data silos, poor data quality, and resistance to change hinder the effective use of analytics (Bello & Hassan, 2025).
Although existing studies emphasize the benefits of data-driven strategies, there is limited research on their specific impact on business expansion in Taraba State. This study addresses this gap by critically analyzing the role of data-driven insights in the region’s corporate firms.
Objectives of the Study
To evaluate the adoption of data-driven decision-making processes among corporate firms in Taraba State.
To assess the impact of data-driven insights on business expansion strategies.
To identify challenges and propose solutions for improving the use of data-driven insights in corporate firms.
Research Questions
How widely are data-driven decision-making processes adopted by corporate firms in Taraba State?
What is the impact of data-driven insights on business expansion strategies in the region?
What challenges hinder the effective use of data-driven insights, and how can they be overcome?
Research Hypotheses
Data-driven insights have no significant impact on business expansion strategies in corporate firms.
The adoption of data-driven decision-making does not significantly improve business outcomes.
Strategies for addressing challenges have no significant effect on the effective use of data-driven insights.
Scope and Limitations of the Study
The study focuses on corporate firms in Taraba State and their use of data-driven insights for business expansion. Limitations include the availability of reliable data, variability in firm size and industry, and resistance to sharing proprietary information.
Definitions of Terms
Data-Driven Insights: Information derived from the analysis of data to inform decision-making.
Business Expansion: The process of growing a business through new markets, products, or operational scale.
Corporate Firms: Large or medium-sized organizations operating in multiple markets or industries.
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