In enterprise workplaces the role of experience is pivotal. Nevertheless, judging only empirically can be potentially problematic especially in complex organizational environments. For this reason taking data driven decisions becomes an increasing trend. In the era of Industry 4.0 business analytics drive new products & services, value chains, business models and human interactions, thus it is essential for organizations to employ them in order to remain competitive.
Capitalizing on advanced statistical techniques practical implications supports its clients by providing them hard facts regarding their daily business activities. Methodologically practical implications collects past business and industry data and uses them in order to extract conclusions about the future. Eventually through a number of innovative econometric models and optimization algorithms practical implicaitons becomes able to make predictions for important organizational factors affecting different functional areas such as marketing, finance, operations and others.