Understanding the Impact of Business Analytics on Innovation





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Understanding the Impact of Business Analytics on Innovation

Abhishek Singh
School of Business, Galgotias University, India.

Abstract

Business analytics, or BA, has changed from being a supporting role to a vital tool for innovation in a fiercely competitive, data-driven economy. This study explores the various ways that business analytics (BA) can promote innovation by helping organizations transform unprocessed data into useful insights. The study shows how descriptive, predictive, and prescriptive analytics support creative thinking, product development, and business model transformation through a combination of theoretical analysis and empirical case studies. To show how analytics can be algorithmically incorporated into the innovation lifecycle, a new Predictive Innovation Algorithm (PIA) is presented. The results of the study demonstrate that companies that use analytics are more agile, customer-focused, and innovatively successful, establishing BA as more than just a tool but a strategic force behind innovation.

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