The Impact of Data Science Solutions on the Company Turnover
This study explores the potential of data science software solutions like Customer Relationship Management Software (CRM) for increasing the revenue generation of businesses. We focused on those businesses in the accommodation and food service sector across the European Union (EU). The investigation...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-10-01
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| Series: | Information |
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| Online Access: | https://www.mdpi.com/2078-2489/14/10/573 |
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| author | Marian Pompiliu Cristescu Dumitru Alexandru Mara Lia Cornelia Culda Raluca Andreea Nerișanu Adela Bâra Simona-Vasilica Oprea |
| author_facet | Marian Pompiliu Cristescu Dumitru Alexandru Mara Lia Cornelia Culda Raluca Andreea Nerișanu Adela Bâra Simona-Vasilica Oprea |
| author_sort | Marian Pompiliu Cristescu |
| collection | DOAJ |
| description | This study explores the potential of data science software solutions like Customer Relationship Management Software (CRM) for increasing the revenue generation of businesses. We focused on those businesses in the accommodation and food service sector across the European Union (EU). The investigation is contextualized within the rising trend of data-driven decision-making, examining the potential correlation between data science applications and business revenues. By employing a comprehensive evaluation of Eurostat datasets from 2014 to 2021, we used both univariate and multivariate analyses, assessing the percentage of companies that have e-commerce sales across the EU countries, focusing on the usage of big data analytics from any source and the use of CRM tools for marketing purposes or other activities. Big data utilization showed a clear, positive relationship with enhanced e-commerce sales. However, CRM tools exhibited a dualistic impact: while their use in marketing showed no significant effect on sales, their application in non-marketing functions had negative effects on sales. These findings underscore the potential role of CRM and data science solutions in enhancing business performance in the EU’s accommodation and food service industry. |
| first_indexed | 2024-03-10T21:11:17Z |
| format | Article |
| id | doaj.art-ecc5afc3b5aa4838a9ff6fa689af7917 |
| institution | Directory Open Access Journal |
| issn | 2078-2489 |
| language | English |
| last_indexed | 2024-03-10T21:11:17Z |
| publishDate | 2023-10-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Information |
| spelling | doaj.art-ecc5afc3b5aa4838a9ff6fa689af79172023-11-19T16:48:22ZengMDPI AGInformation2078-24892023-10-01141057310.3390/info14100573The Impact of Data Science Solutions on the Company TurnoverMarian Pompiliu Cristescu0Dumitru Alexandru Mara1Lia Cornelia Culda2Raluca Andreea Nerișanu3Adela Bâra4Simona-Vasilica Oprea5Faculty of Economic Sciences, Lucian Blaga University of Sibiu, 550324 Sibiu, RomaniaFaculty of Economic Sciences, Lucian Blaga University of Sibiu, 550324 Sibiu, RomaniaFaculty of Economic Sciences, Lucian Blaga University of Sibiu, 550324 Sibiu, RomaniaFaculty of Economic Sciences, Lucian Blaga University of Sibiu, 550324 Sibiu, RomaniaDepartment of Economic Informatics and Cybernetics, Bucharest University of Economic Studies, 010374 Bucharest, RomaniaDepartment of Economic Informatics and Cybernetics, Bucharest University of Economic Studies, 010374 Bucharest, RomaniaThis study explores the potential of data science software solutions like Customer Relationship Management Software (CRM) for increasing the revenue generation of businesses. We focused on those businesses in the accommodation and food service sector across the European Union (EU). The investigation is contextualized within the rising trend of data-driven decision-making, examining the potential correlation between data science applications and business revenues. By employing a comprehensive evaluation of Eurostat datasets from 2014 to 2021, we used both univariate and multivariate analyses, assessing the percentage of companies that have e-commerce sales across the EU countries, focusing on the usage of big data analytics from any source and the use of CRM tools for marketing purposes or other activities. Big data utilization showed a clear, positive relationship with enhanced e-commerce sales. However, CRM tools exhibited a dualistic impact: while their use in marketing showed no significant effect on sales, their application in non-marketing functions had negative effects on sales. These findings underscore the potential role of CRM and data science solutions in enhancing business performance in the EU’s accommodation and food service industry.https://www.mdpi.com/2078-2489/14/10/573big data analyticsrevenue generationCustomer Relationship Management (CRM) |
| spellingShingle | Marian Pompiliu Cristescu Dumitru Alexandru Mara Lia Cornelia Culda Raluca Andreea Nerișanu Adela Bâra Simona-Vasilica Oprea The Impact of Data Science Solutions on the Company Turnover Information big data analytics revenue generation Customer Relationship Management (CRM) |
| title | The Impact of Data Science Solutions on the Company Turnover |
| title_full | The Impact of Data Science Solutions on the Company Turnover |
| title_fullStr | The Impact of Data Science Solutions on the Company Turnover |
| title_full_unstemmed | The Impact of Data Science Solutions on the Company Turnover |
| title_short | The Impact of Data Science Solutions on the Company Turnover |
| title_sort | impact of data science solutions on the company turnover |
| topic | big data analytics revenue generation Customer Relationship Management (CRM) |
| url | https://www.mdpi.com/2078-2489/14/10/573 |
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