What role does IT play in achieving business competitiveness?

What role does IT play in achieving business competitiveness? How does the consideration of Data Analytics comes into your answer? Support your answers with relevant discussion and examples

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Expert Solution

Role of IT in business competitiveness :

Information technology is playing a massive role for business's across the globe to determine who their customers are , what their customers like ,what do they dislike , which geographical location is most suitable for their business , how much revenue they are able to generate from which location.

This is possible majorly because of Data Analytics which majorly comprises of data mining and Big data techniques. Data mining has helped to gather the data about customer's need and favourites in the data warehouses . Big data techniques have helped the business's to process that data and analyse the trend amongst the customers , through which companies respond to their customer's need even before their business competitor's found it out. Thus leading business group in the world are making huge profit via data analytics .

We could take example of pizza delivery service like Domino's they are able to analyse the customer trend and favourite via analysing the orders customers are placing via mobile app , or the feedback they are sharing after delivery. All of this is possible via data analytics only.

venereology answered 1 year ago

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