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Related Experiment Videos

Using Business Analytics for SME Business Model Transformation under Pandemic Time Pressure.

Efpraxia D Zamani1, Anastasia Griva2, Kieran Conboy2

  • 1Information School, The University of Sheffield, Sheffield, UK.

Information Systems Frontiers : a Journal of Research and Innovation
|March 7, 2022
PubMed
Summary
This summary is machine-generated.

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In the ever-evolving field of public health, statistical analysis serves as a cornerstone for understanding and managing disease outbreaks. By leveraging various statistical tools, health professionals can predict potential outbreaks, analyze ongoing situations, and devise effective responses to mitigate impact. For that to happen, there are a few possible stages of the analysis:
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Calculus offers essential techniques for businesses seeking to optimize pricing strategies and revenue. In this case, a bakery wants to determine the ideal price and daily sales volume to maximize revenue. By modeling how changes in price affect demand and revenue, the bakery can apply calculus to make data-driven decisions.The demand function relates the price per cupcake to the number of cupcakes sold and captures how lower prices increase sales. Based on market data, the demand function can...

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Business Analytics (BA) enabled a Small Medium Enterprise (SME) to rapidly adapt its business model during the COVID-19 crisis. This case study offers insights for SMEs on leveraging analytics for business model transformation under pressure.

Area of Science:

  • Business Analytics
  • SME Management
  • Crisis Innovation

Background:

  • The COVID-19 pandemic necessitated rapid business model changes for Small Medium Enterprises (SMEs).
  • Existing research lacks empirical evidence on how Business Analytics (BA) supports SME business model adaptation under extreme time pressure.
  • SMEs faced significant challenges in adapting their operations during the crisis.

Purpose of the Study:

  • To investigate the role of location-based BA in enabling rapid business model adaptation for an SME during the COVID-19 crisis.
  • To address the gap in understanding BA's impact on SME innovation under turbulent conditions.
  • To provide theoretical propositions and practical guidance for SMEs utilizing analytics for business model transformation.

Main Methods:

Keywords:
Busines analyticsBusines model innovationBusiness model adaptationDynamic capabilitiesExogenous shockSMEs

Related Experiment Videos

  • An exemplar case study of an SME actively using location-based BA during the COVID-19 pandemic.
  • Qualitative analysis of the SME's adaptation and innovation processes.
  • Examination of the SME's use of analytics for business model transformation.

    • Main Results:

    • The SME successfully adapted its business model through the strategic application of location-based BA.
    • Location-based analytics facilitated rapid decision-making and innovation in response to the crisis.
    • The case demonstrates the practical value of BA for SME resilience and transformation.

    Conclusions:

    • Business Analytics can be a critical tool for SMEs to navigate extreme uncertainty and adapt business models.
    • The study provides a framework for SMEs to assess and implement analytics for business model innovation.
    • Future research should explore broader applications and impacts of BA in SMEs during crises.