Business Analytics for Managing Performance of Microfinance Institutions: A Flexible Management of the Implementation Process

Abstract

Microfinance institutions are social enterprises that focus on the provision of financial services to poor populations excluded from the conventional banking system. These organizations face a double-bottom line, dealing simultaneously with a financial and social objective. The challenge of putting it into action is great, especially when there is a need to involve all stakeholders and to replicate the experience to new communities. One way to sustain both financial performance and social impacts is to develop a business analytics solution aiming at measuring and expanding social impacts in a financially sustainable way. This paper describes main elements to be considered, in particular the organizational context, the development process, and implementation issues that would facilitate or impede the deployment of a business analytics initiative in practice. Finally, two main components of the implementation process are specifically pointed out: a behavioral fit of the business analytics solution to the cultural context of the organization, and the country where it is deployed, and a flexible commitment in the management of the business analytics initiative implementation.

Determining the Factors Influencing Business Analytics Adoption at Organizational Level: A Systematic Literature Review

“…It is the synthesis and integration of information technology, management science, and statistical analysis to reach the optimum decision for solving business problems that managers face. The primary goal of BA is to improve the way organizations conduct business and drive better business decisions, initiated by the need to either address particular problems or explore and learn from existing data [10]. It enables managers to use data and facts to support their decision-making and improve operations rather than relying solely on experience, intuition, or instinct.…”

“…The proliferation of Big Data (BD) and the rapid evolution of digital products have prompted many business organizations to explore the potential benefits of BA and consider its adoption [9]. These organizations use BA to develop new strategies, evaluate business strengths and weaknesses, track progress, align business objectives and processes [10], predict market opportunities, identify customer preferences, streamline operations, and mitigate potential risks [3]. As a result, global investments in BA tools are consistently on the rise, and there has been a significant surge in corporate spending on such tools [5,11].…”

Factors Influencing Business Analytics Solutions and Views on Business Problems

“…[25,26]. It is therefore essential to study business analytics as such, wherein the research is currently missing and only partial outputs can be encountered, such as the organizational context, development process, and implementation [27]. The main aim of this paper is to identify factors that influence business analytics.…”

Factors Affecting Small and Micro Enterprise Performance with the Mediating Effect of Government Support: Evidence from the Amhara Region Ethiopia

“…Microfinance institutions are social organizations that provide financial services to impoverished people who are unable to access traditional banking [19]. These organizations must deal with financial and social goals at the same time [20]. Contemporarily, microfinance institutions have received a lot of attention because of their important role in poverty alleviation [21,22].…”