The Role of Data Analytics in Driving Business Innovation and Economic Growth- A Comparative Study Across Industries

Gurpreet Singh; Simran Singh; Nahid Rehmani; Pushpa Kumari; S. Vedha Varshini

doi:10.55524/ijirem.2024.11.4.5

Abstract

This research paper examines the pivotal role of data analytics in fostering business innovation and economic growth across various industries. Through a comparative analysis of different sectors, including e-commerce, fast food, and social media platforms, we explore how data-driven insights are reshaping business strategies and market dynamics. The study investigates the implementation of big data analytics in small and medium enterprises (SMEs), the growth of the fast-food industry in India, and the utilization of analytics tools across social media platforms. By analysing case studies and industry trends, this paper highlights the transformative impact of data analytics on business performance, customer engagement, and overall economic development

Keywords

Data Analytics, Business Innovation, Economic Growth, Artificial Intelligence, SMEs, Big Data, Fast-Food Industry, Market Adaptation, Social Media Analytics, E-commerce, Blended Learning, Innovation Analytics, Customer Engagement, Marketing Optimization, Digital Transformation, Business Intelligence, Predictive Analytics, Industry 4.0, Data-Driven Decision Making, Market Segmentation, Consumer Behaviour, Localization Strategies, Emerging Markets, Performance Metrics, Competitive Advantage

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Cites this article as

G. Singh, S. Singh, N. Rehmani, P. Kumari, S. V. Varshini, "The Role of Data Analytics in Driving Business Innovation and Economic Growth- A Comparative Study Across Industries", International Journal of Innovative Research in Engineering & Management (IJIREM), Vol-11, Issue-4, Page No-33-38, 2024. Available from: https://doi.org/10.55524/ijirem.2024.11.4.5