Title: THE FUNDAMENTALS OF BUSINESS ANALYTICS: COMPONENTS OF BUSINESS MODELS IN MANAGEMENT SCIENCE

Authors: Destyana Zarvia, Rosalia Stevania and Wilhelmus Hary Susilo*

Abstract: The fundamentals of business analytics play a crucial role among the components of business models within the field of management science. The analysis of business analytics in relation to the characteristics of emerging trends in business and marketing involves several essential dimensions. These dimensions consist of: 1). The incorporation of advanced technological innovations as a core component, 2). the implementation of novel sales strategies, and 3). The exploration of the changing dynamics and communications between companies and consumers. Organizations are able to focus on the overall breadth of their operations, the quality of their strategic management, the economic ramifications associated with their choices, and the formulation of effective strategies to navigate uncertainties and complexities in an evolving market environment. This framework articulates increasingly common scenarios in modern business. The acronym BANI—Brittle, Anxious, Nonlinear, and Incomprehensible—offers a perspective to enhance understanding and response to the current global situation. Notably, it indicates pathways for businesses to adapt; overcoming obstacles with resilience and flexibility, empathy and consideration will require context, adaptability, transparency, and intuition. The components of the business model encompass the targeted user demographics, customer segments, value proposition, customer engagement strategies, monetization methods, revenue collection techniques, value chain, and the governance or structural framework.

Keywords: Business; essentials; model and elements.

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