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Digital strategies for aiding ease of decision-making in services sector

Digital strategies for aiding ease of decision-making in services sector

Nguyen, Phong and Mogaji, Emmanuel ORCID: 0000-0003-0544-4842 (2023) Digital strategies for aiding ease of decision-making in services sector. In: Sheth, J, Mogaji, Emmanuel ORCID: 0000-0003-0544-4842, Jain, V and Ambika, A, (eds.) Customer-Centric Support Services: The Next Frontier for Competitive Advantage in the Digital Era. Palgrave, Cham, Switzerland. (In Press)

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Abstract

Decision-making complexities should be met with equally sophisticated tools and techniques to achieve the required impact. In today’s technological environment, digital decision-making tools suffice the task. This chapter is centred on digital strategies that enable easier decision-making. The main aim is to establish available strategies and their specific impacts. It deploys a detailed literature review to discern these strategies using findings to inform managerial implications and policy recommendations. Findings from the study indicate that Data-Driven Decision Making (DDDM), Advanced Data Analytics and Retail and Customer Analytics are the major digital tools that support decision-making. Retail and customer analytics enable sales forecasting, dynamic pricing, and micro-segmentation through Big Data Analytics and consumer behaviour analysis through customer analytics. The application of these tools, however, revolves around the internal business environment, which can be influenced by the financial capabilities (to invest), data capabilities (to train and process) and the human resources capabilities (to manage the tools) to enhance the customer experience. The chapter concludes with managerial implications and policy recommendations, reiterating the need to deploy and increase reliance on these digital tools for better organisational decision-making.

Item Type: Book Section
Uncontrolled Keywords: digital; decision-making; service management; data analytics; data
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
T Technology > T Technology (General)
Faculty / School / Research Centre / Research Group: Faculty of Business
Faculty of Business > Department of Marketing, Events & Tourism
Faculty of Business > Marketing Research Group (MRG)
Last Modified: 05 Jan 2023 10:13
URI: http://gala.gre.ac.uk/id/eprint/38385

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