Efficient Data Analysis = Efficient Decisions = Efficient Management. Key Instruments for Managerial Decisions in Stochastic Business Environment Cover Image

Eфикасен анализ на данни = ефикасни решения = eфикасен мениджмънт. Ключови инструменти за управленски решения в стохастична бизнес среда
Efficient Data Analysis = Efficient Decisions = Efficient Management. Key Instruments for Managerial Decisions in Stochastic Business Environment

Author(s): Rosen Todorov
Subject(s): Economy, National Economy, Business Economy / Management
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Innovation; management; data analysis; business intelligence
Summary/Abstract: The current macroeconomic environment in which companies are fighting for a competitive advantage are significantly complicated and highly dynamic. Most of the processes develop stochastically and nonlinearly, which makes them difficult to predict. On the one hand, managers must skillfully and foresightedly know the approved management tools. On the other hand, managers must constantly integrate in their practice new, more sophisticated and specialized tools for making efficient and adequate decisions in an environment of uncertainty and risk. This part of the management of companies often remains unknown, distant and misunderstood by managers. This unfavorable trend is one of the main prerequisites for the loss of competitiveness due to poor adaptation of companies for transformation, digitalization and innovation. The report will attempt to systematize and explain important for the modern management specialized tools for business decision making and innovation.