Using Analysitcal Tools to Improve Business Sustainability
1360 WordsJul 8, 20186 Pages
In everyday routine, people make hundreds of decisions in their personal and professional lives in response to different situations. For example, whether a particular candidate should be hired for the designation offered or the promotional discount will help to enhance sales or not etc. It is considered that more the background information or data available, the better the human’s ability to make good decisions from the various possibilities (Nauman, 1990).
Organisation’s success depends on the alignment of its business processes, resources and values and not only on the employee capabilities working in. Smart organizations make multifaceted interventions such as, organisational structure, technology, methodologies etc in order to examine…show more content…
In today’s market place, the competitive advantage is that customers are more focused towards in consuming the products they buy to have a better experience (McMillan,2006). Following the idea of offering the most-favoured customer policy, cheap and lower prices along with the most reliable technology to its consumers resulted in great customer satisfaction and fulfilled the commitment of providing the ultimate shopping experience. On the other hand, Circuit City sticks to their approach of testing new ventures and focusing more on increasing their sales figure ignoring their rivals for a longer period being the market leaders in the technology field (Chen, 2011).
For the future prospective of the business and to gain the competitive advantage, Best Buy is more focused on approaching towards better decision making strategy based on different tools and methodologies and the effective use of customer centric business analytics framework. While on the other hand, Circuit City was not doing well in business being more products centric. Circuit City’s image was portrayed as not being sensitive to the customer’s desires although the Best Buy being customer centric were more towards handling customer queries and complaints on priority basis. Effective and efficient decision making and better utilization of resources helped them to increase their market share and gained the competitive advantage over other market