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Article
Publication date: 3 July 2007

Joe F. Hair

The purpose of this paper is to provide an overview of predictive analytics, summarize how it is impacting knowledge creation in marketing, and suggest future developments in…

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Abstract

Purpose

The purpose of this paper is to provide an overview of predictive analytics, summarize how it is impacting knowledge creation in marketing, and suggest future developments in marketing and predictive analytics for both organizations and researchers.

Design/methodology/approach

Survival in a knowledge‐based economy is derived from the ability to convert information to knowledge. To do so, researchers and managers increasingly are relying on the field of predictive analytics. Data mining identifies and confirms relationships between explanatory and criterion variables. Predictive analytics uses confirmed relationships between variables to predict future outcomes. The predictions are most often values suggesting the likelihood a particular behavior or event will take place in the future.

Findings

Data mining and predictive analytics are increasingly popular because of the substantial contributions they can make in converting information to knowledge. Marketing is among the most frequent applications of the techniques, and whether you think about product development, advertising, distribution and retailing, or marketing research and business intelligence, data mining and predictive analytics increasingly are being applied.

Originality/value

In the future, we can expect predictive analytics to increasingly be applied to databases in all fields and revolutionize the ability to identify, understand and predict future developments, data analysts will increasingly rely on mixed‐data models that examine both structured (numbers)and unstructured (text and images) data, statistical tools will be more powerful and easier to use, future applications will be global and real time, demand for data analysts will increase as will the need for students to learn data analysis methods, and scholarly researchers will need to improve their quantitative skills so the large amounts of information available can be used to create knowledge instead of information overload.

Details

European Business Review, vol. 19 no. 4
Type: Research Article
ISSN: 0955-534X

Keywords

Article
Publication date: 10 March 2021

Paul Joseph-Richard, James Uhomoibhi and Andrew Jaffrey

The aims of this study are to examine affective responses of university students when viewing their own predictive learning analytics (PLA) dashboards, and to analyse how those…

Abstract

Purpose

The aims of this study are to examine affective responses of university students when viewing their own predictive learning analytics (PLA) dashboards, and to analyse how those responses are perceived to affect their self-regulated learning behaviour.

Design/methodology/approach

A total of 42 Northern Irish students were shown their own predicted status of academic achievement on a dashboard. A list of emotions along with definitions was provided and the respondents were instructed to verbalise them during the experience. Post-hoc walk-through conversations with participants further clarified their responses. Content analysis methods were used to categorise response patterns.

Findings

There is a significant variation in ways students respond to the predictions: they were curious and motivated, comforted and sceptical, confused and fearful and not interested and doubting the accuracy of predictions. The authors show that not all PLA-triggered affective states motivate students to act in desirable and productive ways.

Research limitations/implications

This small-scale exploratory study was conducted in one higher education institution with a relatively small sample of students in one discipline. In addition to the many different categories of students included in the study, specific efforts were made to include “at-risk” students. However, none responded. A larger sample from a multi-disciplinary background that includes those who are categorised as “at-risk” could further enhance the understanding.

Practical implications

The authors provide mixed evidence for students' openness to learn from predictive learning analytics scores. The implications of our study are not straightforward, except to proceed with caution, valuing benefits while ensuring that students' emotional well-being is protected through a mindful implementation of PLA systems.

Social implications

Understanding students' affect responses contributes to the quality of student support in higher education institutions. In the current era on online learning and increasing adaptation to living and learning online, the findings allow for the development of appropriate strategies for implementing affect-aware predictive learning analytics (PLA) systems.

Originality/value

The current study is unique in its research context, and in its examination of immediate affective states experienced by students who viewed their predicted scores, based on their own dynamic learning data, in their home institution. It brings out the complexities involved in implementing student-facing PLA dashboards in higher education institutions.

Details

The International Journal of Information and Learning Technology, vol. 38 no. 2
Type: Research Article
ISSN: 2056-4880

Keywords

Article
Publication date: 31 January 2018

Deniz A. Appelbaum, Alex Kogan and Miklos A. Vasarhelyi

There is an increasing recognition in the public audit profession that the emergence of big data as well as the growing use of business analytics by audit clients has brought new…

2150

Abstract

There is an increasing recognition in the public audit profession that the emergence of big data as well as the growing use of business analytics by audit clients has brought new opportunities and challenges. That is, should more complex business analytics beyond the customary analytical procedures be used in the engagement and if so, where? Which techniques appear to be most promising? This paper starts the process of addressing these questions by examining extant external audit research. 301 papers are identified that discuss some use of analytical procedures in the public audit engagement. These papers are then categorized by technique, engagement phase, and other attributes to facilitate understanding. This analysis of the literature is categorized into an External Audit Analytics (EAA) framework, the objective of which is to identify gaps, to provide motivation for new research, and to classify and outline the main topics addressed in this literature. Specifically, this synthesis organizes audit research, thereby offering guidelines regarding possible future research about approaches for more complex and data driven analytics in the engagement.

Details

Journal of Accounting Literature, vol. 40 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 13 March 2009

Ranjit Bose

Advanced analytics‐driven data analyses allow enterprises to have a complete or “360 degrees” view of their operations and customers. The insight that they gain from such analyses…

13989

Abstract

Purpose

Advanced analytics‐driven data analyses allow enterprises to have a complete or “360 degrees” view of their operations and customers. The insight that they gain from such analyses is then used to direct, optimize, and automate their decision making to successfully achieve their organizational goals. Data, text, and web mining technologies are some of the key contributors to making advanced analytics possible. This paper aims to investigate these three mining technologies in terms of how they are used and the issues that are related to their effective implementation and management within the broader context of predictive or advanced analytics.

Design/methodology/approach

A range of recently published research literature on business intelligence (BI); predictive analytics; and data, text and web mining is reviewed to explore their current state, issues and challenges learned from their practice.

Findings

The findings are reported in two parts. The first part discusses a framework for BI using the data, text, and web mining technologies for advanced analytics; and the second part identifies and discusses the opportunities and challenges the business managers dealing with these technologies face for gaining competitive advantages for their businesses.

Originality/value

The study findings are intended to assist business managers to effectively understand the issues and emerging technologies behind advanced analytics implementation.

Details

Industrial Management & Data Systems, vol. 109 no. 2
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 29 September 2012

Bruce E. Massis

The purpose of this column is to introduce predictive analytics and its potential for use in the library.

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Abstract

Purpose

The purpose of this column is to introduce predictive analytics and its potential for use in the library.

Design/methodology/approach

The paper uses a literature review and commentary on this topic that has been addressed by theoreticians, researchers and practitioners.

Findings

Today, there are numerous commercial data‐analysis software tools that can assist the library in its organizational planning efforts. Most prominently in the basic areas of staffing, budgets, collections, services and facilities, predictive analytics can be used to help develop an overall plan of financial and programmatic development for the library.

Originality/value

The value in addressing this issue is to suggest that libraries might consider use of data‐analysis software to support their budget and planning processes.

Details

New Library World, vol. 113 no. 9/10
Type: Research Article
ISSN: 0307-4803

Keywords

Article
Publication date: 14 October 2013

Evangelos Kalampokis, Efthimios Tambouris and Konstantinos Tarabanis

The purpose of this paper is to consolidate existing knowledge and provide a deeper understanding of the use of social media (SM) data for predictions in various areas, such as…

8308

Abstract

Purpose

The purpose of this paper is to consolidate existing knowledge and provide a deeper understanding of the use of social media (SM) data for predictions in various areas, such as disease outbreaks, product sales, stock market volatility and elections outcome predictions.

Design/methodology/approach

The scientific literature was systematically reviewed to identify relevant empirical studies. These studies were analysed and synthesized in the form of a proposed conceptual framework, which was thereafter applied to further analyse this literature, hence gaining new insights into the field.

Findings

The proposed framework reveals that all relevant studies can be decomposed into a small number of steps, and different approaches can be followed in each step. The application of the framework resulted in interesting findings. For example, most studies support SM predictive power, however, more than one-third of these studies infer predictive power without employing predictive analytics. In addition, analysis suggests that there is a clear need for more advanced sentiment analysis methods as well as methods for identifying search terms for collection and filtering of raw SM data.

Originality/value

The proposed framework enables researchers to classify and evaluate existing studies, to design scientifically rigorous new studies and to identify the field's weaknesses, hence proposing future research directions.

Details

Internet Research, vol. 23 no. 5
Type: Research Article
ISSN: 1066-2243

Keywords

Article
Publication date: 21 March 2024

Nanda Kumar Karippur, Pushpa Rani Balaramachandran and Elvin John

This paper aims at identifying the key factors influencing the adoption intention of data analytics for predictive maintenance (PdM) from the lens of the…

Abstract

Purpose

This paper aims at identifying the key factors influencing the adoption intention of data analytics for predictive maintenance (PdM) from the lens of the Technology–Organization–Environment (TOE) framework in the Singapore Process Industries context. The research model aids practitioners and researchers in developing a holistic maintenance strategy for large-scale asset-heavy process industries.

Design/methodology/approach

The TOE framework has been used in this study to consider a wide set of TOE factors and develop a research model with the support of literature. A survey is undertaken and the structural equation modelling (SEM) technique is adopted to test the hypotheses of the proposed model.

Findings

This research highlights the significant roles of digital infrastructure readiness, security and privacy, top management support, organizational competence, partnership with external consultants and government support in influencing adoption intention of data analytics for PdM. Perceived challenges related to organizational restructuring and process automation are not found significant in influencing the adoption intention.

Practical implications

This paper reports valuable insights on adoption intention of data analytics for PdM with relevant implications for the various stakeholders such as the leaders and senior managers of process manufacturing industry companies, government agencies, technology consultants and service providers.

Originality/value

This research uniquely validates the model for the adoption of data analytics for PdM in the process industries using the TOE framework. It reveals the significant technology, organizational and environmental factors influencing the adoption intention and highlights the relevant insights and implications for stakeholders.

Details

Journal of Manufacturing Technology Management, vol. 35 no. 3
Type: Research Article
ISSN: 1741-038X

Keywords

Article
Publication date: 25 January 2023

Marcello Mariani and Jochen Wirtz

This work consists of a critical reflection on the extent to which hospitality and tourism management scholars have accurately used the term “analytics” and its five types (i.e…

1285

Abstract

Purpose

This work consists of a critical reflection on the extent to which hospitality and tourism management scholars have accurately used the term “analytics” and its five types (i.e. descriptive, exploratory, predictive, prescriptive and cognitive analytics) in their research. Only cognitive analytics, the latest and most advanced type, is based on artificial intelligence (AI) and requires machine learning (ML). As cognitive analytics constitutes the cutting edge in industry application, this study aims to examine in depth the extent cognitive analytics has been covered in the literature.

Design/methodology/approach

This study is based on a systematic literature review (SLR) of the hospitality and tourism literature on the topic of “analytics”. The SLR findings were complemented by the results of an additional search query based on “machine learning” and “deep learning” that was used as a robustness check. Moreover, the SLR findings were triangulated with recent literature reviews on related topics (e.g. big data and AI) to generate additional insights.

Findings

The findings of this study show that: there is a growing and accelerating body of research on analytics; the literature lacks a consistent use of terminology and definitions related to analytics. Specifically, publications rarely use scientific definitions of analytics and their different types; although AI and ML are key enabling technologies for cognitive analytics, hospitality and tourism management research did not explicitly link these terms to analytics and did not distinguish cognitive analytics from other forms of analytics that do not rely on ML. In fact, the term “cognitive analytics” is apparently missing in the hospitality and tourism management literature.

Research limitations/implications

This study generates a set of eight theoretical and three practical implications and advance theoretical and methodological recommendations for further research.

Originality/value

To the best of the authors’ knowledge, this is the first study that explicitly and critically examines the use of analytics in general, and cognitive analytics in particular, in the hospitality and tourism management literature.

Details

International Journal of Contemporary Hospitality Management, vol. 35 no. 8
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 30 October 2018

Anuoluwapo Ajayi, Lukumon Oyedele, Juan Manuel Davila Delgado, Lukman Akanbi, Muhammad Bilal, Olugbenga Akinade and Oladimeji Olawale

The purpose of this paper is to highlight the use of the big data technologies for health and safety risks analytics in the power infrastructure domain with large data sets of…

2202

Abstract

Purpose

The purpose of this paper is to highlight the use of the big data technologies for health and safety risks analytics in the power infrastructure domain with large data sets of health and safety risks, which are usually sparse and noisy.

Design/methodology/approach

The study focuses on using the big data frameworks for designing a robust architecture for handling and analysing (exploratory and predictive analytics) accidents in power infrastructure. The designed architecture is based on a well coherent health risk analytics lifecycle. A prototype of the architecture interfaced various technology artefacts was implemented in the Java language to predict the likelihoods of health hazards occurrence. A preliminary evaluation of the proposed architecture was carried out with a subset of an objective data, obtained from a leading UK power infrastructure company offering a broad range of power infrastructure services.

Findings

The proposed architecture was able to identify relevant variables and improve preliminary prediction accuracies and explanatory capacities. It has also enabled conclusions to be drawn regarding the causes of health risks. The results represent a significant improvement in terms of managing information on construction accidents, particularly in power infrastructure domain.

Originality/value

This study carries out a comprehensive literature review to advance the health and safety risk management in construction. It also highlights the inability of the conventional technologies in handling unstructured and incomplete data set for real-time analytics processing. The study proposes a technique in big data technology for finding complex patterns and establishing the statistical cohesion of hidden patterns for optimal future decision making.

Details

World Journal of Science, Technology and Sustainable Development, vol. 16 no. 1
Type: Research Article
ISSN: 2042-5945

Keywords

Article
Publication date: 28 October 2019

Farshid Mirzaalian and Elizabeth Halpenny

The purpose of this paper is to provide a review of hospitality and tourism studies that have used social media analytics to collect, examine, summarize and interpret “big data”…

3342

Abstract

Purpose

The purpose of this paper is to provide a review of hospitality and tourism studies that have used social media analytics to collect, examine, summarize and interpret “big data” derived from social media. It proposes improved approaches by documenting past and current analytic practice addressed by the selected studies in social media analytics.

Design/methodology/approach

Studies from the past 18 years were identified and collected from five international electronic bibliographic databases. Social media analytics-related terms and keywords in the titles, keywords or abstracts were used to identify relevant articles. Book chapters, conference papers and articles not written in English were excluded from analysis. The preferred reporting items for systematic reviews and meta-analyses (PRISMA) guided the search, and Stieglitz and Dang-Xuan’s (2013) social media analytics framework was adapted to categorize methods reported in each article.

Findings

The research purpose of each study was identified and categorized to better understand the questions social media analytics were being used to address, as well as the frequency of each method’s use. Since 2014, rapid growth of social media analytics was observed, along with an expanded use of multiple analytic methods, including accuracy testing. These factors suggest an increased commitment to and competency in conducting comprehensive and robust social media data analyses. Improved use of methods such as social network analysis, comparative analysis and trend analysis is recommended. Consumer-review networks and social networking sites were the main social media platforms from which data were gathered; simultaneous analysis of multi-platform/sources of data is recommended to improve validity and comprehensive understanding.

Originality/value

This is the first systematic literature review of the application of social media analytics in hospitality and tourism research. The study highlights advancements in social media analytics and recommends an expansion of approaches; common analytical methods such as text analysis and sentiment analysis should be supplemented by infrequently used approaches such as comparative analysis and spatial analysis.

研究目的

本文对酒店旅游学科中采用社交媒体数据分析的文献进行梳理。本文通过审阅其相关分析方法的文献来提出分析方法的改进策略。

研究设计/方法/途径

样本数据包括过去18年中五个国际在线文献索引库中的文献。搜索通过标题、关键词、或者摘要中出现社交媒体数据分析等相关字样的文章。书章节、会议文章、以及非英文文章未被收录在索引中。系统回顾和文献综述的方法(PRISMA)指导本文文献索引, Stieglitz和Dang-Xuan(2013)社交媒体数据分析框架作为本文文献分类的方法。

研究结果

本文汇报了每篇文献的研究目的以及系统归类以更好理解社交媒体数据分析的研究问题以及每种方法的使用频率。自2014年起, 社交媒体数据分析快速增长, 以及其他相关分析方法, 包括精度测试(accuracy testing)。这些结果表明更多全面、稳定的分析方法需求增强以及竞争激烈。本文推荐使用改良方法, 比如社交网络分析法、比较分析、趋势分析等。消费者评价网络和社交网站成为主要社交媒体网络数据的提供平台。本文推荐多源数据应该同步分析以提高有效性和全面性的理解。

研究原创性/价值

本文是首篇酒店旅游领域中对社交媒体数据分析的系统文献回顾型文章。本文强调了社交媒体数据分析的先进性以及扩展其方法的全面性;常见分析方法比如文本分析和情感分析应该结合非常见的分析方法比如比较分析法和空间分析法进行系统分析。

关键词 – 关键词 对比分析, 情感分析, 用户原创内容,社交媒体分析, 主题模型, 空间分析, 文本分析文章类型 文献综述

1 – 10 of over 4000