Decision analytics for competitive advantage: cases on using social media analytics Online publication date: Thu, 05-Oct-2023
by Pooja Nanda; Vikas Kumar
International Journal of Technology, Policy and Management (IJTPM), Vol. 23, No. 4, 2023
Abstract: Competitive advantage has become very important for the organisations to survive in the dynamic Global marketplace. Gathering information and using it to make informed decisions is a very common strategy for any business. With the increase in social media platforms and users, the ease of analysing and reporting the data generated on these platforms has also increased. Organisations can now generate useful business insights from the social media platforms and keep an eye on their competitors regarding innovation and strategic policies. This research explores how social media platforms can be used for monitoring the real time data of the rival organisations to achieve the competitive advantage. In this paper, Porter's model has been considered to identify the various forces and how social media analytics (SMA) can be used to tackle these. Real life cases from industry and academia have been illustrated to understand the usage of SMA for gaining competitive advantage.
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