Cristescu, M.P.; Mara, D.A.; Culda, L.C.; Nerișanu, R.A.; Bâra, A.; Oprea, S.-V. The Impact of Data Science Solutions on the Company Turnover. Information2023, 14, 573.
Cristescu, M.P.; Mara, D.A.; Culda, L.C.; Nerișanu, R.A.; Bâra, A.; Oprea, S.-V. The Impact of Data Science Solutions on the Company Turnover. Information 2023, 14, 573.
Cristescu, M.P.; Mara, D.A.; Culda, L.C.; Nerișanu, R.A.; Bâra, A.; Oprea, S.-V. The Impact of Data Science Solutions on the Company Turnover. Information2023, 14, 573.
Cristescu, M.P.; Mara, D.A.; Culda, L.C.; Nerișanu, R.A.; Bâra, A.; Oprea, S.-V. The Impact of Data Science Solutions on the Company Turnover. Information 2023, 14, 573.
Abstract
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 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 application and business revenue. Employing a comprehensive evaluation of Eurostat datasets from 2014 to 2021, we used both univariate and multivariate analyses, we assessed e-commerce sales data across countries, focusing on the usage of big data and CRM tools. 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 a negative correlation. 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.
Keywords
Big Data Analytics; Revenue Generation; Customer Relationship Management (CRM)
Subject
Computer Science and Mathematics, Analysis
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.