Date of Publication :20th November 2020

Abstract: In recent years, both industry and the Governments have high focus on sustainable economic growth. This paper examines how business environment and business analytics can be key enablers towards these goals. In the 1st part, this paper uses a structural equation model (SEM) that demonstrates the association of good business environment on attracting Foreign direct Investment (FDI), which in turn helps in the economic growth or GDP. The World Bank’s ease of doing business (EODB) scores are used for a fair indication on the business environment. The results highlight the importance that good business environment have in global competitiveness and the SEM model reveal a strong association of EODB or the business environment with the FDI inflow. The analysis also confirms positive association of FDI inflow with the GDP growth in the country. The 2nd part analyses how vast amount of data could be used by the industry to achieve sustainable and growing business with right products, right quality and right costs. For this purpose, in-depth interviews were conducted with some senior managers and entrepreneurs to understand the perspectives on how data analytics could help the organizations in better supply chain optimization, scientific demand planning, cost optimization and performance management to stay ahead in the competitive world and build sustainable supply chains for competitive advantage. Interviews were focused on business needs for various purposes like performance management, Predictive Analytics, forecasting and strategic planning and their expectations for a perceived success.

Reference :