Introduction to Strategic Analytics

This chapter explains strategic analytics. It introduces the main pillars of the book: the fields of analytics, management science, information technology, statistics, artificial intelligence (AI), and strategic management. While analytics provide the context for the use of data for decision-making, management science, together with statistics, is one of the engines behind analytics. Currently, information technology needs to consider two key sources of data for decision-making: digital data streams flowing from a multitude of sources most of them without being controlled by the companies; and traditional data ware houses, which store the data generated mostly by transactional and internal systems. AI, a field within computer science, aims to develop machines that can perform tasks requiring intelligence. The chapter also shows a brief explanation of the impact of the issues in terms of formulation and solutions developed using management science tools.