COMPARATIVE REVIEW OF BUSINESS ANALYTICS IMPLEMENTATION IN SMES: INSIGHTS FROM THE UNITED STATES AND AFRICA

Author:
Odunayo Josephine Akindote, Efe Zainab Egieya, Samuel Onimisi Dawodu, Ejuma Martha Adaga, Abimbola Oluwatoyin Adegbite, Stephen, Osawaru Eloghosa

Doi: 10.26480/mbmj.01.2024.18.26

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

This study aims to provide a comprehensive analysis of the implementation and impact of business analytics in Small and Medium Enterprises (SMEs) within two markedly different economic environments: the United States and Africa. The objective is to synthesize existing literature and case studies to understand how SMEs in these regions are adopting and benefiting from business analytics, and to identify the challenges and best practices associated with this adoption. In the United States, SMEs are situated in a well-developed technological ecosystem, which presents both opportunities and challenges for business analytics implementation. This review will collate studies and reports that detail the extent to which American SMEs are utilizing business analytics to improve decision-making, enhance customer experiences, and optimize operations. It explores the kind of analytics tools most commonly used, the sectors that are leading in analytics adoption, and the specific benefits these tools provide. Additionally, the study discusses the challenges faced by SMEs in the US, such as data security, compliance with regulations like GDPR, and the scarcity of skilled analytics professionals. In contrast, the African SME sector presents a different scenario. Despite facing infrastructural and resource limitations, SMEs in Africa are increasingly turning to business analytics as a tool to navigate complex market dynamics. The review will examine how these enterprises are leveraging data, often from mobile and informal sources, to gain insights into customer behavior, manage resources more efficiently, and carve out competitive niches. It highlights the role of innovative, low-cost analytics solutions adapted to the African context and discuss how governmental policies and initiatives are supporting this trend. By comparing and contrasting the use of business analytics in SMEs across these two regions, the study uncovers the diverse ways in which business analytics can be implemented, considering different economic, technological, and infrastructural contexts. This comparative review will not only deepen the understanding of business analytics in SME settings but also provide valuable lessons and strategies that can be adapted across different regions. This analysis is particularly relevant for policymakers, business strategists, and academic researchers interested in the global trends of technology adoption in SMEs and its implications for business growth and innovation.

Pages 18-26
Year 2024
Issue 1
Volume 3