Harnessing Predictive Analytics for Strategic Foresight: A Comprehensive Review of Techniques and Applications in Transforming Raw Data to Actionable Insights
Folashade Gloria Olaniyi, Oluwaseun Oladeji Olaniyi, Chinasa Susan Adigwe, Anthony Idoko Abalaka, Nishant Hemantkumar Shah
Asian Journal of Economics, Business and Accounting · pp. 441–459 · Published 15 Nov 2023
10.9734/ajeba/2023/v23i221164Abstract
In an era characterized by an unprecedented influx of data, the skill to extract actionable insights from this deluge has become paramount for organizations across diverse industries. The study seeks to address this challenge by exploring the transformative potential of predictive analytics. The research problem at the heart of this study revolves around the need to leverage data not merely as a historical repository but as a predictive tool for informed decision-making. In pursuit of this goal, a comprehensive literature review is undertaken, dissecting the evolution of data analytics, and highlighting the pivotal role of predictive analytics in today's data-driven landscape. This review identifies gaps in current knowledge, emphasizing the need for a deeper understanding of predictive analytics’ practical applications and implications. Methodologically, this research employs a multi-faceted approach. It incorporates case studies from diverse sectors, including healthcare, finance, marketing, and government, to exemplify how predictive analytics shapes strategies, optimizes operations, and enhances user experiences. Additionally, the study delves into the latest developments and trends in data analytics, surveying cutting-edge tools and techniques that empower organizations to navigate the complex terrain of big data. Key findings from this investigation underscore the profound impact of predictive analytics. It reveals that organizations adopting predictive analytics experience a marked improvement in their ability to anticipate future trends, optimize resource allocation, and mitigate risks effectively. Real-world examples demonstrate how predictive analytics can revolutionize patient care, financial decision-making, marketing campaigns, and public policy formulation, among other domains. The implications of this research are far-reaching. It underscores organizations' need to invest in predictive analytics as a strategic asset that enhances competitiveness and fosters innovation. As data continues to burgeon, embracing predictive analytics emerges as a decisive step toward navigating the complexities of the data-driven age.
Cited by 20
Wilhelmina Afua Addy, Chinonye Esther Ugochukwu, Adedoyin Tolulope Oyewole · GSC Advanced Research and Reviews · 2024
Faruq Umar Quadri, Oluwaseun Oladeji Olaniyi, Olugbenga Olaposi Olaoye · Asian Journal of Education and Social Studies · 2023
Frederik C. Rust, Leslie R. Sampson, Adriana A. Cachia · Journal of Transport and Supply Chain Management · 2024
Oluwaseun Oladeji Olaniyi, Christopher Uzoma Asonze, Samson Abidemi Ajayi · Asian Journal of Economics, Business and Accounting · 2023
Tanusree Chakraborty, Sharada V. S., Jyoti Sharma · Advances in Logistics, Operations, and Management Science · 2024
Yewande Alice Marquis, Tunbosun Oyewale Oladoyinbo, Samuel Oladiipo Olabanji · Asian Journal of Advanced Research and Reports · 2024
Chinasa Susan Adigwe, Nanyeneke Ravana Mayeke, Samuel Oladiipo Olabanji · Asian Journal of Economics, Business and Accounting · 2024
Nneka Damola Ajayi, Samson Abidemi Ajayi, John Oizamsi Boyi · 2024
Olugbenga O. Olaoye, Faruq Quadri, Oluwaseun Oladeji Olaniyi · 2024
Oluwaseun Oladeji Olaniyi, Jennifer Chinelo Ugonnia, Folashade Gloria Olaniyi · Asian Journal of Research in Computer Science · 2024
Related research
- Agrobacterium-Mediated Transient Assay of the Gus Gene Expression in Sugar Beet — shares topic coverage
- Decomposition with the Mixed Model in Time Series Analysis using Buys-Ballot Procedure — shares topic coverage
- Establishment of Regeneration and Transformation System of Lycopersicon esculentum MicroTom — shares topic coverage
- Establishment of Agrobacterium-Mediated Transformation System in Sweet Potato (Ipomoea batatas) by Culture of Leaf Segments for Functional Analysis of ASG-1, an Apomixis-Specific Gene — shares topic coverage
- L-Phenylalanine and L-Tyrosine Catabolism by Thermophilic Geobacillus stearothermophilus — shares topic coverage
Article metrics
Real usage data collected on this platform.
0
Page views
0
PDF downloads
0
Outbound clicks
20
Citations
Views by country
Approximate, from request IP at view time — not citizenship or institution. Countries with fewer than 5 views are grouped as "Other".
No views recorded yet.
Traffic sources
Referring site, by host.
No traffic recorded yet.
Views and downloads exclude known bots/crawlers. Citations combines this platform's own DOI-resolved index with each external source's own reported total — see Cited by above for individually listed citing works. Last refreshed 0 seconds ago.