AI Summary & Key Takeaways
AI InsightConclusion- The results demonstrate that higher business intelligence levels enhance firm performance.
📌 3 Key Takeaways
Abstract
Purpose- In order to recognize and adapt to the changing demands and desires of their customers, businesses must become more inventive. This is made necessary by the quickly evolving multinational business environment and the extraordinary technological breakthroughs. Due to assure firm performance, these intelligence businesses must be able to respond to the complex dynamics in the global marketplace successfully, accurately, efficiently, and fast. Open innovation can be created to enhance performance by using knowledge learned about outside projects, rival businesses, clients, and new technologies. The purpose of this study is to ascertain the impact of business intelligence on a firm's performance with the mediation effect of open innovation on financial performance. Methodology- The statistical population for this study consists of 200 managers from internet technology and software enterprises. There are 132 company managers in the sample. A questionnaire that was distributed and gathered using a non-probability sampling technique is the data collection tool in this study. The research data were also examined using Smart-PLS and SPSS software. In this study, both descriptive and inferential analyses were used. Findings- Data analysis using PLS software and research findings demonstrate that business intelligence and open innovation have a positive influence on financial and firm performance. The findings also show that open innovation and financial performance play the roles of mediators. Conclusion- The results demonstrate that higher business intelligence levels enhance firm performance. In today's fast-paced and competitive company world, managing and optimizing business performance is essential for maintaining viability as well as maximizing firm profitability. In order to access performance, effective business performance management will combine business analytics with open innovation. Business intelligence can therefore offer a foundation for comprehending which data is pertinent for open innovation and company business improvement.