Business Customers Research Articles

Application of Big Data and Analytics to Increase Competitive Advantage

In the digital era the volume of data continues to increase rapidly, big data and analytics are important tools for companies to utilize the data and increase competitive advantage. The purpose of this research is to find out how big data and analytics can be applied to increase competitive advantage. This research uses qualitative research methods. The data collection technique in this research is a literature study. The data that has been collected is then analyzed in three stages, namely data reduction, data presentation and conclusion drawing. The results showed that big data and analytics are important tools for companies to increase competitive advantage in this digital era including through personalization of customer experience, operational optimization, and business strategy development. The implementation of big data and analytics is expected to have an impact on companies so that they can make better decisions, develop new products and services, improve operating efficiency, and strengthen relationships with customers.

Analysis of Customer Digital Behavior through the Canvas Business Model: An Initial Proposal

The main objective of this work is to propose a framework containing a sequence of actions and steps that can be used to assist managers and organizations in decision-making and improvement of their managerial and commercial performance. This work followed quantitative and qualitative methodology involving a bibliometric research, meta-analysis through the application of secondary data, bibliographic analysis and the exposure of the proposed model for the approval of managers and professors in the area of management and marketing, linked to a research group of a federal university in Rio de Janeiro. The theoretical contribution of the work was to establish a conceptual link between knowledge about customer behavior and business models. The practical contribution was the elaboration and description of a self-applicable theoretical model in the organizational decision-making environment, based on market and commercial elements present in the daily life of the manager and the organization, especially the small ones. The main conclusion was that the theoretical model was approved when appreciated by managers and professors of the area, however, it still needs to be validated quantitatively and in organizational environment for the generalization of its use.

Development Prospects of Modern Banking

Relevance. The increasing competition between financial institutions and technology companies requires the active implementation of innovative developments in current activities. Artificial intelligence is becoming an everyday fact of presence in communications between business partners and customers, generating new formats of interaction. "Smart" technologies based on artificial intelligence are able to take on certain mechanical functions related to the verification and verification of contract terms, which can significantly speed up formal procedures and reduce the likelihood of operational errors. Innovative solutions for the fulfillment of contractual obligations based on the signing of smart contracts in various business areas contribute to the use of such in banking, where communication is constantly taking place according to standard banking procedures.Purpose. The purpose of the work is to reveal the peculiarity of the use of a smart contract in the banking business for its scaling.Objectives. The following tasks were set and consistently solved in the article: to study the features and nature of the emergence of smart contracts in the business environment, to analyze the existing practice of using this tool, to formulate the principles of transformation of contracting processes with the introduction of "smart" technologies into traditional banking business.Methodology. The methods of generalization, systematization, analogy, graphical and logical analysis, and idea generation were used in the work.Results. The paper examines the properties of an innovative digital banking business contracting tool, highlights its main characteristics and grounds for application, and considers the mechanism of its implementation in the blockchain environment.Conclusions. The article examines the directions of the future development of banking in the domestic banking sector and draws conclusions about the further development of "smart" technologies in the context of increasing competition between banking and technology companies. The expansion of banking business in the online space is impossible without the use of advanced solutions in the field of customer service, which leads to the emergence and development of the practice of intellectualization of traditional contract processes.

The Assessment Model of Robotic Process Automation (RPA) Project Using Benefit Study and Balanced Scorecard (BSC) Approach

Assessing Robotic Process Automation (RPA) projects is challenging, especially for small and medium-sized enterprises (SMEs) with limited resources. The most common approach, cost-benefit analysis, measures the financial success of a project, but it does not capture all RPA benefits, which can lead to erroneous decisions about starting, continuing, delaying, or stopping an RPA project. This research presents a novel RPA project assessment model that combines a benefits approach with the balanced scorecard (BSC) framework. The model identifies RPA benefits from the scientific literature and classifies them into four BSC indicators: financial, business process improvement, customer satisfaction, and learning and development. SMEs can easily use the model by comparing expected and actual benefits to make quick and holistic decisions. The model's simplicity, ease of use, and ability to reveal both monetary and non-monetary RPA benefits make it a valuable tool for SMEs.

Assessing the Impact of e-Levy on Perceived Value and Customer Satisfaction of Mobile Money Innovation in Ghana

The study examines the effect of e-levy on the perceived value and customer satisfaction of mobile money innovation in Ghana. The study employed a quantitative approach using a sample of 500 mobile money users across the Greater Accra metropolis. The study utilized structural equation modeling (SEM) to conduct explorative factor analysis (EFA), confirmatory factor analysis (CFA) and hypotheses testing to generate the results of the study. The study found a significant positive relationship between perceived value and customer satisfaction. However, e-levy negatively moderates the relationship between perceived value and customer satisfaction. The study is the first of its kind to investigate the role of e-levy on user perceived value and customer satisfaction from a marketing perspective within a specific industry context. The study offers managers of mobile money service providers a helpful guidance for developing and implementing policies that increase customer satisfaction and business sustenance.

Strategi Sukses Manajemen Kreativitas dan Inovasi dalam Pengembangan Pengembangan Bisnis Ice Cream Pink Chiling

This research discusses the management of creativity and innovation in the ice cream business in Indonesia, with a focus on the Pink Chilling business case study. Globalization and technological advances have encouraged companies to continue to innovate in order to survive and develop in intense competition. This research uses a qualitative approach with data collection methods through interviews and literature analysis. The research results show that Pink Chilling is an ice cream business founded in April 2023 by the Agustina family. By using innovation in product prices, menu variations and creative services, Pink Chilling has succeeded in attracting customer interest and increasing market share. The implementation of creative management policies, systematic supervision, and innovative sales strategies have helped Pink Chilling create a work environment that supports creativity and innovation, as well as increasing customer satisfaction and business growth. This research concludes that creativity and innovation management play an important role in the success of the Pink Chilling ice cream business, as well as providing insight into the importance of creative strategies in facing intensive business competition.

Advancing E-commerce Smart-PLS as a Catalyst for Improved Online Shopping Services

In the fast-paced world of e-commerce, the adoption of advanced methodologies and technologies is vital to address the increasing demands and challenges of online shopping services. This paper examines the transformative impact of Partial Least Squares Structural Equation Modeling (Smart-PLS) on e-commerce. Smart-PLS is a powerful tool that offers a robust framework for analyzing and enhancing various aspects of e-commerce, such as customer experience, service quality, and business performance. This study explores how Smart-PLS facilitates a data-driven decision-making approach, resulting in better user experiences, optimized supply chains, and improved business strategies. The abstract underscores the importance of Smart-PLS as a revolutionary tool in the e-commerce sector, enabling businesses to adapt, innovate, and succeed in the digital marketplace. It highlights the potential of Smart-PLS to shape the future of online shopping services and stresses the necessity of its adoption for maintaining competitiveness in the ever-changing e-commerce landscape.

E-PAYMENT INFORMATION SYSTEM AT FAMILYMART BRANCH PT. AT INDONESIA

The study aims to design e-payment information systems at FamilyMart, one of AT Indonesia's branches, in response to business dynamics and technological developments in the retail sector. By initiating a need analysis step through a deep understanding of FamilyMart's retail business processes and customer preferences, the study explores the potential for implementation of e-betalings technology to improve operational efficiency and provide a more comfortable shopping experience. Through direct observation methods, interviews with stakeholders, and literature, the study attempts to identify key features of e-payment systems, integrate them with existing cashier systems, as well as highlight necessary security aspects. In the deeper scope, the research includes conceptual modelling, analysis of software needs, and development of waterfall models as early stages of implementation. The development focuses on security aspects and integration with existing information technology infrastructure. The results of this research are expected to provide a strategic foundation for PT AT Indonesia in the face of an increasingly digitalized business era.

Research on time-value-oriented business model innovation path in life services enterprises and its impact on customer perceived value

In the era of the digital economy, the acceleration of life pace has induced to a continuous increase in people’s sense of time scarcity. In order to satisfy consumers’ lifestyle changes and immediate needs, life service enterprises have carried out lots of business model innovation activities guided by value of time. However, it is still unclear what the time-value-oriented business model innovation path is and whether it can improve the perceived value of customers. Under such background, this paper aims to construct a time-value-oriented business model innovation path in life services enterprises and to discuss its relationship with customer perceived value. The study indicates that: Firstly, specific innovation paths of enterprises include putting forward the purpose of value of time proposition, designing standardized process based on time-oriented, constantly forming unique core resources such as big data, brand and supply chain, and updating the transaction method combining online and offline, and so on. Secondly, the questionnaire results indicate that time-value oriented business model innovation in four aspects – value proposition, key processes, core resources, and transaction methods – can effectively enhance customer perceived value. Thirdly, there are differences in the matching degree between time-value-oriented business model innovation and customer value perception among different types of enterprises in the life services industry. Among them, the express delivery industry has the highest enhancing degree and customer satisfaction. This is related to the heterogeneous characteristics of industries such as express delivery, transportation, catering, and retail. Overall, this study offers a comprehensive and practical perspective for enterprises to meet customer perceived value demands by presenting business model innovation paths and solutions.

Significant Role of Digital Marketing Strategies in Driving Business Growth, Success and Customer Experience

In the current era of technology, organizations encounter the crucial obstacle of efficiently utilizing digital marketing tactics to stimulate expansion, guarantee achievement, and improve client satisfaction. In today's digital era, companies face intense competitions in the online realm, where being visible, engaging, and converting customers are of utmost importance. Nevertheless, several firms have challenges in creating and implementing digital marketing strategies that are in line with their goals, appeal to their intended audience, and provide measurable outcomes. An important concern is the fast advancement of digital marketing platforms and technology, which may inundate firms. In order to be competitive and achieve sustainable development, companies must constantly adapt and modify their tactics due to the intricate and ever-changing nature of digital marketing. To tackle these difficulties, it is essential to adopt a complete strategy that combines data-driven analysis, innovative content creation, and a customer-focused attitude. This will enable the delivery of engaging experiences that connect with customers in the digital realm.

Data-driven decision making: Shaping the future of business efficiency and customer engagement

Data-driven decision-making (DDDM) is a critical approach that organizations are adopting to enhance their operational efficiency and customer engagement. This abstract explores the significance of DDDM in shaping the future of businesses. Data-driven decision-making (DDDM) is revolutionizing the way businesses operate and engage with customers. By leveraging data analytics, organizations can extract valuable insights to inform strategic decisions, improve operational efficiency, and enhance customer experiences. This abstract examines the role of DDDM in shaping the future of business efficiency and customer engagement. DDDM enables organizations to optimize their processes and resources through data analysis. By identifying patterns and trends in data, businesses can streamline operations, reduce costs, and improve productivity. For example, predictive analytics can help forecast demand, allowing businesses to adjust their inventory levels accordingly and avoid stockouts or overstock situations. Additionally, data-driven insights can inform resource allocation decisions, ensuring that resources are allocated efficiently to maximize returns. DDDM also plays a crucial role in enhancing customer engagement. By analyzing customer data, businesses can gain a deeper understanding of customer behavior, preferences, and needs. This enables businesses to tailor their products and services to better meet customer expectations, leading to higher customer satisfaction and loyalty. For example, personalized marketing campaigns based on customer data can significantly improve engagement and conversion rates. As the volume and complexity of data continue to grow, DDDM will become even more essential for businesses. Advancements in technology, such as artificial intelligence and machine learning, will further enhance the capabilities of DDDM, allowing businesses to derive even more value from their data. However, organizations must also address challenges such as data privacy and security to ensure that DDDM is implemented ethically and responsibly. In conclusion, DDDM is reshaping the future of business efficiency and customer engagement. By embracing DDDM, organizations can unlock the full potential of their data and gain a competitive edge in today's data-driven world.

Digital transformation as a catalyst for business model innovation: A critical review of impact and implementation strategies

This study critically examines the transformative impact of digitalization on business models and identifies effective implementation strategies for navigating digital transformation. The primary objective was to explore how digital technologies act as catalysts for innovation within business models, assessing both the opportunities and challenges they present. Through a systematic literature review and content analysis, this research analyzed peer-reviewed articles and conference papers published between 2014 and 2024, focusing on the integration of emerging technologies such as AI, IoT, and blockchain into business practices. The methodology involved a comprehensive search across multiple databases, adhering to strict inclusion and exclusion criteria to ensure the relevance and quality of the literature. The analysis revealed that digitalization significantly enhances business agility, customer engagement, and operational efficiency, driving the evolution of traditional business models towards more adaptive, data-driven frameworks. Key insights highlight the necessity for organizations to embrace a culture of innovation and continuous learning to leverage digital transformation effectively. Strategic recommendations for practitioners emphasize the importance of developing digital literacy, fostering collaborative ecosystems, and aligning digital initiatives with broader business objectives. The study also discusses policy implications, urging the creation of supportive regulatory environments that facilitate digital innovation while addressing concerns related to data privacy and workforce displacement. Finally, this research underscores the critical role of digitalization in shaping the future of business models and outlines avenues for future research to bridge existing knowledge gaps and explore emerging digital trends. The findings serve as a valuable guide for business leaders, policymakers, and scholars in navigating the complexities of digital transformation.

Evaluation of the Performance of Operations Management in the Industrial Sector at the National Gas and Industrialization Company (GASCO), headquartered in Riyadh City, Saudi Arabia

Operations play a major role in the LPG industry where the business involves suppliers, some of who are the business owners and customers. Organizations in the LPG industry are faced with challenges in their quest to deliver their products to consumers while concurrently ensuring profitability. Thus, they have to tailor their business operations practices to fit the market. This scientific research aims to see to what extent operations management practices are being undertaken in the National Gas and Industrialization Co. (GASCO) headquarter in Riyadh city that also it owns seven (7) filling stations and a transportation and distribution fleet in Saudi Arabia by studying their supply chain and their process to determine how they impact on the operational performance of the factories. The target population in this study was the National Gas and Industrialization Co. (GASCO) headquarter in Riyadh city that also it owns seven (7) filling stations and a transportation and distribution fleet in Saudi Arabia. Primary data on the project implementation was collected using a questionnaire. Secondary data was obtained from relevant publications and literature review from the different organizations. Data was presented using tables, and pie charts to make them reader friendly and this study conducted a multiple regression analysis. Multiple regression analysis was used to establish the relationship between the independent and dependent variables. The study found that there is a positive significant relationship between supply chain, lean management, value stream mapping, machine maintenance and operational performance. However, the study found a negative relationship between constraints and operational performance of an organization. The study recommends that factories should be urged to adopt all the practices under supply chain management, adoption of communication channels enhancement among all the staff working in various departments to improve value stream mapping. The study further, recommends that National Gas and Industrialization Co. (GASCO) headquartered in Riyadh city that also it owns seven (7) filling stations and a transportation and distribution fleet in Saudi Arabia should have a skilled LPG manpower to handle issues on machine maintenance and replacement as this will lead to continued production.

An Analysis of Cash Management with Reference to Deccan Industries

Cash management refers to a broad area of finance involving the collection, handling, and usage of cash. It involves assessing market liquidity, cash flow, and investments. In banking, cash management, or treasury management, is a marketing term for certain services related to cash flow offered primarily to larger business customers. It may be used to describe all bank accounts (such as checking accounts) provided to businesses of a certain size, but it is more often used to describe specific services such as cash concentration, zero balance accounting, and automated clearing house facilities. Sometimes, private banking customers are given cash management services. Financial instruments involved in cash management include money market funds, treasury bills, and certificates. Cash management essentially means dealing with an organization's cash so its use provides the most value to the business. This can mean planning to keep the right amount of cash on hand as well as making plans for the cash the company does not need to have available for business operations. Cash managers plan for, protect, and invest cash assets. Basic parts of planning for efficient cash management include knowing how much cash should be on hand, efficiently handling cash transactions, and investing any surplus cash in securities that will grow the value of the company's money.

ПРАКТИЧНІ РЕКОМЕНДАЦІЇ ЩОДО ВИКОРИСТАННЯ GENERATIVE AI В БІЗНЕСІ

Generative Artificial Intelligence (GenAI) is transforming the economic landscape by introducing innovative solutions that significantly enhance business efficiency, drive innovation, and create competitive advantages. This article delves into the economic implications and practical applications of GenAI across various business domains, including marketing, customer support, product design, and data analysis. By leveraging advanced AI models, companies can automate routine tasks, generate personalized content, and optimize operations, leading to substantial economic benefits. The implementation of GenAI necessitates a systematic approach, starting with business concept validation and progressing through stages of technical solution identification, proof of technology, and project planning. These stages ensure that AI solutions are economically viable, effective, and aligned with business objectives. Businesses can adopt different strategies to integrate GenAI, ranging from the rapid deployment of third-party applications to the development of customized in-house models. Each approach offers unique economic benefits, balancing customization and control with implementation time and value. This article provides practical recommendations for strategy of implementing Generative AI, emphasizing the importance of careful economic analysis, stakeholder engagement, and continuous improvement. By adopting a structured approach and selecting the appropriate integration strategy, businesses can harness the transformative power of GenAI. This enables them to innovate and thrive in an increasingly competitive economic environment, positioning themselves as leaders in the digital age.

Managing social-educational robotics for students with autism spectrum disorder through business model canvas and customer discovery.

Social-educational robotics, such as NAO humanoid robots with social, anthropomorphic, humanlike features, are tools for learning, education, and addressing developmental disorders (e.g., autism spectrum disorder or ASD) through social and collaborative robotic interactions and interventions. There are significant gaps at the intersection of social robotics and autism research dealing with how robotic technology helps ASD individuals with their social, emotional, and communication needs, and supports teachers who engage with ASD students. This research aims to (a) obtain new scientific knowledge on social-educational robotics by exploring the usage of social robots (especially humanoids) and robotic interventions with ASD students at high schools through an ASD student-teacher co-working with social robot-social robotic interactions triad framework; (b) utilize Business Model Canvas (BMC) methodology for robot design and curriculum development targeted at ASD students; and (c) connect interdisciplinary areas of consumer behavior research, social robotics, and human-robot interaction using customer discovery interviews for bridging the gap between academic research on social robotics on the one hand, and industry development and customers on the other. The customer discovery process in this research results in eight core research propositions delineating the contexts that enable a higher quality learning environment corresponding with ASD students' learning requirements through the use of social robots and preparing them for future learning and workforce environments.

Congregation-Based Service Financing Scheme (LASISMA) in Improving Customer Business at BMT NU Larangan Pamekasan Branch

Financing is one that is really needed by the community to meet their needs, one of which is the financing contained in the BMT NU larangan branch, namely congregation-based service financing (LASISMA), this financing uses the Al qordhul Hasan contract and customers or partners increase every year. In this study, researchers describe. How is the implementation of congregation-based service financing (LASISMA) in the larangan subdistrict customer business at the larangan branch of BMT NU, the researcher also describes what are the inhibiting and supporting factors in congregation-based service financing (LASISMA) at the larangan branch of NU BMT. The result of this research is a congregation-based service financing scheme (LASISMA) in increasing business. customers, the BMT groups members of at least 5 and a maximum of 20 members, then BMT provides basic education and conducts surveys, makes letters of recommendation and monitors the customer's business. Factors that become obstacles and supports in financing LASISMA are the existence of groups that also offer similar financing to LASISMA, namely in the form of groups, and also the customer's lack of understanding in managing their business. And one of the supporting factors is the ease of getting financing and installments.

Customer Experience Measurement: a Critical Review of Literature

Objective: This research aims to explore the current customer experience measurement metrices to find out merit and pitfalls in them based on a critical review of existing literature. Methods: We have used Pare et tal (2015) six step framework for a structured and critical review of the current consumer measurement indices.145 Journal articles and 10 books related to the subject were reviewed and analysed during the process. Result: Significant findings include lack of association between business strategy and customer experience measurement, Data in silo format, Interdepartmental collaboration missing. The Twelve widely used metrices have merits as well as significant pitfalls. Comapnies and firm need to revisit and redefine their customer experience measurement índices.

Model Business Performance, Market Share, and Customer Customer Legitimacy in Indonesian SMEs

Model Business Performance, Market Share, and Customer Customer Legitimacy in Indonesian SMEs

Calculating Customer Lifetime Value through Data Analysis

Customer Lifetime Value (CLV) is a crucial metric for businesses to understand the long-term value of their customers. This research paper delves into the significance of CLV, explores various methods for calculating it through data analysis, and discusses the implications of accurate CLV estimation on business strategies. By leveraging data analytics techniques, businesses can gain valuable insights into customer behaviour, preferences, and profitability, ultimately leading to improved decision-making and enhanced customer relationships. Customer Lifetime Value (CLV) is a vital metric for businesses to comprehend the long-term value of their customers. The research paper highlights several key points regarding CLV: Calculation Factors: CLV calculations should consider indirect costs like administrative, marketing, and legal costs, not just direct expenses. Limitations: CLV based solely on spending may not fully represent a customer's value, as factors like brand advocacy, referrals, and feedback also contribute. Historical Data: CLV is often calculated using past customer data, which may not accurately predict future customer behaviours due to changing trends and customer preferences. Pareto's Principle: This principle, known as the 80/20 rule, can be applied to CLV to identify high-value customers and key factors influencing CLV. Overall, the paper emphasizes the importance of understanding CLV beyond mere spending, considering historical data limitations, and utilizing tools like Pareto's Principle to optimize customer value and business strategies.