Business analytics: a novel approach to improve the management of Cuban companies

Abstract

Digital transformation is a profound and accelerated modification of activities, processes, competencies and business models to take full advantage of the changes and opportunities of digital technologies and the data of organizations. Business analytics is a novel approach as it integrates functional and rational statistics, information technologies and systems, modeling and optimization to improve data-driven decision making. The objective of this work is to analyze the barriers, possible challenges, and opportunities involved in the application of Business Analytics in Cuban companies. Starting from the study of the management processes of a group of productive and service entities to identify the main premises for its successful introduction into the economy of the country. It was found that decision-making often lacks the information needed to make better evidence-based decisions.