Using Data Analytics to Identify Emerging Market Opportunities: A Mixed-Methods Study in International Business

Description

Using Data Analytics to Identify Emerging Market Opportunities: A Mixed-Methods Study in International Business

Abstract

In the rapidly evolving technologies, businesses face huge competition in the market. When changes in the market occur, automatically risks as well as benefits are increased. To avoid the problems and enhance businesses, companies need to find new Emerging Market Opportunities. However this research’s main aim is to analyze the data analytics importance in identifying the market opportunities in the internal business. It employs a mixed-method study to grasp customer behavior and market trends.

The mixed method involves two phases such as qualitative and quantitative that are useful for finding relevant information. The qualitative phase involves conducting interviews with market experts, data analysts, and business strategists. Moreover this phase provides the real-time applications of data analytics in the market and the challenges that occur in data interpretation. The quantitative phase includes examining the existing datasets related to the global market which contain consumer trends, and demographic shifts. Generally it identifies that clustering techniques and predictive modeling are useful for minimizing the risks in the business.

The findings explain the data analytics’ cruciality in the market opportunities in the international business. It offers various strategies for usage of the data analytics for global expansion. However this study emphasizes that understanding the relationship between international business and data analytics helps to enhance business.  Insights from the study will be useful for international businesses to evaluate and identify market opportunities. Furthermore, they will help to make informed decisions that increase their opportunities for business growth and expansions in the global market.

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