Data-Driven decision making in agriculture and business: The role of advanced analytics

Data-Driven decision making in agriculture and business: The role of advanced analytics

07-07-24 | Eyitayo Raji, Tochukwu Ignatius Ijomah, & Osemeike Gloria Eyieyien
Advanced analytics has revolutionized decision-making processes in agriculture and business by leveraging data-driven insights to optimize operations, manage risks, and drive innovation. This paper explores the transformative role of advanced analytics in these sectors, highlighting key benefits, challenges, and future directions. In agriculture, advanced analytics enables precision farming through AI, IoT sensors, and satellite imagery, improving crop yields and sustainability. Similarly, in business, it supports strategic decision-making by analyzing consumer behavior, predicting market trends, and optimizing supply chain operations. However, adopting advanced analytics faces challenges such as data quality, technical expertise, cost constraints, and ethical considerations. Addressing these challenges requires investments in data infrastructure, talent development, and regulatory compliance. Emerging trends include AI-driven automation, blockchain for supply chain transparency, and augmented analytics for democratizing data access. The paper recommends investing in data capabilities, fostering collaborative partnerships, and promoting a culture of data-driven decision making. Embracing advanced analytics is essential for organizations seeking to thrive in a data-driven economy.Advanced analytics has revolutionized decision-making processes in agriculture and business by leveraging data-driven insights to optimize operations, manage risks, and drive innovation. This paper explores the transformative role of advanced analytics in these sectors, highlighting key benefits, challenges, and future directions. In agriculture, advanced analytics enables precision farming through AI, IoT sensors, and satellite imagery, improving crop yields and sustainability. Similarly, in business, it supports strategic decision-making by analyzing consumer behavior, predicting market trends, and optimizing supply chain operations. However, adopting advanced analytics faces challenges such as data quality, technical expertise, cost constraints, and ethical considerations. Addressing these challenges requires investments in data infrastructure, talent development, and regulatory compliance. Emerging trends include AI-driven automation, blockchain for supply chain transparency, and augmented analytics for democratizing data access. The paper recommends investing in data capabilities, fostering collaborative partnerships, and promoting a culture of data-driven decision making. Embracing advanced analytics is essential for organizations seeking to thrive in a data-driven economy.
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