The Perceived Economic Impact of Data Science Solutions on Business Performance
摘要
The advent of digital transformation has ushered in an era in which data science solutions are critical to organizational success, particularly in terms of improving economic outcomes for businesses. In a landscape characterized by intense competition and rapid technological advancements, this study seeks to dissect the economic implications of implementing data analytics within corporate structures, with a focus on creating business value and augmenting organizational capabilities. This study, based on a comprehensive review of the literature and empirical data analysis, investigates the role of data analytics in fostering value generation and strengthening companies' analytics capabilities. The methodology includes a systematic literature review to identify the critical resources and factors that contribute to the development of data analytics proficiency within organizations. Furthermore, a survey approach examines the effects of data analytics on company performance and strategic resource allocation. The findings reveal a significant link between strong data analytics capabilities and improved economic performance, emphasizing the importance of tangible, human, and intangible resources in developing these capabilities. Furthermore, the study emphasizes data analytics' transformative potential in operational optimization, strategic decision-making, and market positioning, which will ultimately contribute to long-term economic growth. This paper aims to provide an in-depth understanding of the economic impact of data science solutions on businesses by combining theoretical insights with empirical evidence, making it a valuable resource for academics, industry practitioners, and decision-makers with an interest in using the power of data analytics for economic advancement.