Analyzing the Impact of Data Analytics on Performance Metrics in SMEs

MD Nadil Khan; Shariful Haque; Kazi Sanwarul Azim; Khaled Al-Samad; A H M Jafor; Md. Aziz; Omar Faruq; Nahid Khan

doi:10.62127/aijmr.2024.v02i05.1081

Analyzing the Impact of Data Analytics on Performance Metrics in SMEs

Author(s)	MD Nadil Khan, Shariful Haque, Kazi Sanwarul Azim, Khaled Al-Samad, A H M Jafor, Md. Aziz, Omar Faruq, Nahid Khan
Country	United States
Abstract	In any volatile scenario of the small and medium scaled enterprises (SMEs), data analytics which is considered as a transformatory factor is no exception, thus impacting a number of performance parameters. This paper has a look at data analytics in the micro-small and medium enterprises sorting companies and how they not only enhance the operational efficiency but also drive the decision making and strategic planning which drives the sustainable growth. Taking into account a mixed-methods strategy, the study reflects a holistic cross-sectional demonstration of SMEs belonging to different markets, accentuating the positive outcomes and tradeoffs resulting from the introduction of data analytics. These study findings showed that, after all, data analytics stands out as a powerful tool that brings about several improvements in critical success factors, such as retention of customers, operational efficiency and profitability. Empowered SMEs that are equipped with advanced analytics, in turn, improve decision-making effectiveness and liking by over 50%, which places them in superior competitive positions in the markets. But between its advantages and challenges, the transition to technological change is not that simple. The researches point out that there are the significant issues such as resource shortage, knowledge deficit which limit the performance of the SMEs and also the cultural issue that impede the learning process. The highlighted case studies that are set by this article are analysis implementations that help SMEs to overcome their difficulties and a make data-driven insights well-used. This study comes to the strategic end by offering SMEs a roadmap for mastering the eternity of data analytics adoption, and at the same time, future research directions are suggested so as to delve deeper into the scalability of analytics tools in an attempt to improve performance in SMEs.
Keywords	Data Analytics, SMEs (Small and Medium-sized Enterprises), Performance Metrics, Business, Intelligence, Operational Efficiency, Strategic Decision-Making, Adoption Barriers, Technological Innovation
Discipline	Other
Published In	Volume 2, Issue 5, September-October 2024
Published On	2024-09-14
Cite This	Analyzing the Impact of Data Analytics on Performance Metrics in SMEs - MD Nadil Khan, Shariful Haque, Kazi Sanwarul Azim, Khaled Al-Samad, A H M Jafor, Md. Aziz, Omar Faruq, Nahid Khan - AIJMR Volume 2, Issue 5, September-October 2024. DOI 10.62127/aijmr.2024.v02i05.1081
DOI	https://doi.org/10.62127/aijmr.2024.v02i05.1081
Short DOI	https://doi.org/g6jjfp

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Analyzing the Impact of Data Analytics on Performance Metrics in SMEs

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