The Impact of IT-Driven Real-Time Analytics on Strategic Business Decision-Making in the Digital Economy

Abstract

Organizations must make well-informed decisions quickly and efficiently in the quickly changing digital economy. The goal of this study is to investigate how corporate responsiveness and agility can be improved by incorporating IT-driven real-time analytics into strategic business decision-making processes. The importance of this research resides in its capacity to educate companies on the revolutionary influence of real-time data on decision-making, which will ultimately enhance operational efficiency and competitiveness. Understanding the precise impacts of real-time analytics on strategic choices in a setting marked by swift market shifts is the main issue addressed. This study analyzes case studies and existing literature on real-time analytics using a qualitative research methodology and secondary data sources. The results show that companies using real-time analytics see significant operational efficiencies, faster decision-making, and better customer acquisition and retention. However, issues with cultural sensitivity and data privacy continue to exist, underscoring the necessity for businesses to cultivate a data-driven culture. With its insights on best practices for successfully integrating real-time analytics, this study has significance for both academics and practitioners. Despite many drawbacks, such as its reliance on secondary data, the study offers a strong basis for further research into real-time analytics applications unique to particular industries. Investing in strong infrastructures for data integration and giving priority to training initiatives that foster a culture of data-driven decision-making are two policy recommendations. In the dynamic business climate of today, this study emphasizes the critical role that IT-driven real-time analytics play in determining strategic business results.