IDEAS home Printed from https://ideas.repec.org/a/spr/jglont/v14y2024i1d10.1007_s40497-024-00396-2.html
   My bibliography  Save this article

The nexus between customer value analytics and SME performance in emerging market: a resource-based view perspective

Author

Listed:
  • Kwabena Abrokwah-Larbi

    (Logistics and Sports Management, Namibia University of Science and Technology)

Abstract

This research seeks to examine the interaction between customer value analytics (CVA) and performance of SMEs through the Resource-Based View (RBV) theory’s viewpoint. In this study, data was acquired by surveying 225 SMEs recognised by the Ghana Enterprise Agency (GEA) as food processors in the Eastern Region of Ghana. Analysis of the impact of CVA on SMEs’ performance was conducted using the path analysis approach of structural equation modelling (SEM). The results of the study showed that CVA had a substantial and positive effect on performance of SMEs in the areas of internal processes of business, learning and development, customers, and finance. Findings from this study further demonstrate how crucial CVA components—data mining (DM), Internet of Things (IoT), and analytic hierarchy process (AHP)—are to the functioning of SMEs. The research findings provide strong evidence for the proposition of the RBV theory.The results of the present research corroborate prior studies that propose that SMEs ought to view CVA and its determinants—like IoT, DM, and AHP—as a crucial competitive asset and capability that could potentially augment their expansion in areas like finance, customer acquisition, internal business operations, and learning and development. This study advances the understanding of CVA and SMEs’ performance, particularly in emerging market economies.

Suggested Citation

  • Kwabena Abrokwah-Larbi, 2024. "The nexus between customer value analytics and SME performance in emerging market: a resource-based view perspective," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 14(1), pages 1-20, December.
    • Handle: RePEc:spr:jglont:v:14:y:2024:i:1:d:10.1007_s40497-024-00396-2
    DOI: 10.1007/s40497-024-00396-2
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40497-024-00396-2
    File Function: Abstract
    Download Restriction: no
    File URL: https://libkey.io/10.1007/s40497-024-00396-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Wen-Jie Yan & Shang-Chia Chiou, 2020. "Dimensions of Customer Value for the Development of Digital Customization in the Clothing Industry," Sustainability, MDPI, vol. 12(11), pages 1-27, June.
    2. Ramakrishnan Ramanathan & Yanqing Duan & Tahmina Ajmal & Katarzyna Pelc & James Gillespie & Sahar Ahmadzadeh & Joan Condell & Imke Hermens & Usha Ramanathan, 2023. "Motivations and Challenges for Food Companies in Using IoT Sensors for Reducing Food Waste: Some Insights and a Road Map for the Future," Sustainability, MDPI, vol. 15(2), pages 1-21, January.
    3. Emmanuel Bruce & Zhao Shurong & Du Ying & Meng Yaqi & John Amoah & Sulemana Bankuoru Egala, 2023. "The Effect of Digital Marketing Adoption on SMEs Sustainable Growth: Empirical Evidence from Ghana," Sustainability, MDPI, vol. 15(6), pages 1-24, March.
    4. Jan-Benedict E. M. Steenkamp & Alberto Maydeu-Olivares, 2023. "Unrestricted factor analysis: A powerful alternative to confirmatory factor analysis," Journal of the Academy of Marketing Science, Springer, vol. 51(1), pages 86-113, January.
    5. Zoran Latinovic & Sharmila C. Chatterjee, 2022. "Achieving the promise of AI and ML in delivering economic and relational customer value in B2B," Post-Print hal-04717609, HAL.
    6. Cherchye, Laurens & De Rock, Bram & Dierynck, Bart & Kerstens, Pieter Jan & Roodhooft, Filip, 2023. "A DEA-based approach to customer value analysis," European Journal of Operational Research, Elsevier, vol. 308(3), pages 1319-1331.
    7. Holmlund, Maria & Van Vaerenbergh, Yves & Ciuchita, Robert & Ravald, Annika & Sarantopoulos, Panagiotis & Ordenes, Francisco Villarroel & Zaki, Mohamed, 2020. "Customer experience management in the age of big data analytics: A strategic framework," Journal of Business Research, Elsevier, vol. 116(C), pages 356-365.
    8. Lee, In & Lee, Kyoochun, 2015. "The Internet of Things (IoT): Applications, investments, and challenges for enterprises," Business Horizons, Elsevier, vol. 58(4), pages 431-440.
    9. Raed. M. Khrisat & Amineh A. Khaddam & Mohammed A. Abusweilem, 2023. "The role of using big data in predicting customer behaviour: the intermediary role of business intelligence in Jordanian telecommunications companies (a field study)," International Journal of Business Information Systems, Inderscience Enterprises Ltd, vol. 42(1), pages 23-42.
    10. Akter, Shahriar & Wamba, Samuel Fosso & Gunasekaran, Angappa & Dubey, Rameshwar & Childe, Stephen J., 2016. "How to improve firm performance using big data analytics capability and business strategy alignment?," International Journal of Production Economics, Elsevier, vol. 182(C), pages 113-131.
    11. Lähteenmäki, Ilkka & Nätti, Satu & Saraniemi, Saila, 2022. "Digitalization-enabled evolution of customer value creation: An executive view in financial services," Journal of Business Research, Elsevier, vol. 146(C), pages 504-517.
    12. George Evans, 2002. "Measuring and managing customer value," Work Study, Emerald Group Publishing Limited, vol. 51(3), pages 134-139, June.
    13. Abdalwali Lutfi & Adi Alsyouf & Mohammed Amin Almaiah & Mahmaod Alrawad & Ahmed Abdullah Khalil Abdo & Akif Lutfi Al-Khasawneh & Nahla Ibrahim & Mohamed Saad, 2022. "Factors Influencing the Adoption of Big Data Analytics in the Digital Transformation Era: Case Study of Jordanian SMEs," Sustainability, MDPI, vol. 14(3), pages 1-17, February.
    14. Thi Mai Le & Shu-Yi Liaw, 2017. "Effects of Pros and Cons of Applying Big Data Analytics to Consumers’ Responses in an E-Commerce Context," Sustainability, MDPI, vol. 9(5), pages 1-19, May.
    15. Patrícia Quesado & Salomé Marques & Rui Silva & Alexandrino Ribeiro, 2022. "The Balanced Scorecard as a Strategic Management Tool in the Textile Sector," Administrative Sciences, MDPI, vol. 12(1), pages 1-25, March.
    16. Chiara Mio & Antonio Costantini & Silvia Panfilo, 2022. "Performance measurement tools for sustainable business: A systematic literature review on the sustainability balanced scorecard use," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(2), pages 367-384, March.
    17. Kaiser, Christian & Stocker, Alexander & Viscusi, Gianluigi & Fellmann, Michael & Richter, Alexander, 2021. "Conceptualising value creation in data-driven services: The case of vehicle data," International Journal of Information Management, Elsevier, vol. 59(C).
    18. Latinovic, Zoran & Chatterjee, Sharmila C., 2022. "Achieving the promise of AI and ML in delivering economic and relational customer value in B2B," Journal of Business Research, Elsevier, vol. 144(C), pages 966-974.
    19. Božič, Katerina & Dimovski, Vlado, 2019. "Business intelligence and analytics for value creation: The role of absorptive capacity," International Journal of Information Management, Elsevier, vol. 46(C), pages 93-103.
    20. Fathi Mohamed Daradkeh & Thowayeb H. Hassan & Tatiana Palei & Mohamed Y. Helal & Sanaa Mabrouk & Mahmoud I. Saleh & Amany E. Salem & Nabila N. Elshawarbi, 2023. "Enhancing Digital Presence for Maximizing Customer Value in Fast-Food Restaurants," Sustainability, MDPI, vol. 15(7), pages 1-18, March.
    21. Yunqiang Yin & Feng Chu & Alexandre Dolgui & T.C.E. Cheng & M.C. Zhou, 2022. "Big data analytics in production and distribution management," International Journal of Production Research, Taylor & Francis Journals, vol. 60(22), pages 6682-6690, November.
    22. Matarazzo, Michela & Penco, Lara & Profumo, Giorgia & Quaglia, Roberto, 2021. "Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective," Journal of Business Research, Elsevier, vol. 123(C), pages 642-656.
    23. Zdenka Dudic & Branislav Dudic & Michal Gregus & Daniela Novackova & Ivana Djakovic, 2020. "The Innovativeness and Usage of the Balanced Scorecard Model in SMEs," Sustainability, MDPI, vol. 12(8), pages 1-22, April.
    24. Mary J. Benner & Joel Waldfogel, 2023. "Changing the channel: Digitization and the rise of “middle tail” strategies," Strategic Management Journal, Wiley Blackwell, vol. 44(1), pages 264-287, January.
    25. Sunday C. Eze & Vera C. A. Chinedu-Eze & Clinton K. Okike & Adenike O. Bello, 2020. "Critical factors influencing the adoption of digital marketing devices by service-oriented micro-businesses in Nigeria: A thematic analysis approach," Palgrave Communications, Palgrave Macmillan, vol. 7(1), pages 1-14, December.
    26. Pedro Angel Garcia Aguirre & Luis Pérez-Domínguez & David Luviano-Cruz & Jaime Solano-Noriega & Marling Carolina Cordero-Díaz, 2023. "AHP-FMEA-DA multi-criteria method for NPD project launch analysis," International Journal of Innovation and Sustainable Development, Inderscience Enterprises Ltd, vol. 17(1/2), pages 138-151.
    27. Perdana, Arif & Lee, Hwee Hoon & Koh, SzeKee & Arisandi, Desi, 2022. "Data analytics in small and mid-size enterprises: Enablers and inhibitors for business value and firm performance," International Journal of Accounting Information Systems, Elsevier, vol. 44(C).
    28. Timothy Olaniyi Aluko & Paul Kibuuka, 2023. "Effectiveness in the small enterprise state grant-funded programme performance – a balanced scorecard application," Development Southern Africa, Taylor & Francis Journals, vol. 40(2), pages 390-405, March.
    29. Hossain, Md Afnan & Akter, Shahriar & Yanamandram, Venkata, 2020. "Revisiting customer analytics capability for data-driven retailing," Journal of Retailing and Consumer Services, Elsevier, vol. 56(C).
    30. Yuanzhu Zhan & Kim Hua Tan & Baofeng Huo, 2019. "Bridging customer knowledge to innovative product development: a data mining approach," International Journal of Production Research, Taylor & Francis Journals, vol. 57(20), pages 6335-6350, October.
    31. Tiago Carneiro & Winnie Ng Picoto & Inês Pinto, 2023. "Big Data Analytics and Firm Performance in the Hotel Sector," Tourism and Hospitality, MDPI, vol. 4(2), pages 1-13, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lutfi, Abdalwali & Alrawad, Mahmaod & Alsyouf, Adi & Almaiah, Mohammed Amin & Al-Khasawneh, Ahmad & Al-Khasawneh, Akif Lutfi & Alshira'h, Ahmad Farhan & Alshirah, Malek Hamed & Saad, Mohamed & Ibrahim, 2023. "Drivers and impact of big data analytic adoption in the retail industry: A quantitative investigation applying structural equation modeling," Journal of Retailing and Consumer Services, Elsevier, vol. 70(C).
    2. Li, Ying & Dai, Jing & Cui, Li, 2020. "The impact of digital technologies on economic and environmental performance in the context of industry 4.0: A moderated mediation model," International Journal of Production Economics, Elsevier, vol. 229(C).
    3. Brewis, Claire & Dibb, Sally & Meadows, Maureen, 2023. "Leveraging big data for strategic marketing: A dynamic capabilities model for incumbent firms," Technological Forecasting and Social Change, Elsevier, vol. 190(C).
    4. Oesterreich, Thuy Duong & Anton, Eduard & Teuteberg, Frank & Dwivedi, Yogesh K, 2022. "The role of the social and technical factors in creating business value from big data analytics: A meta-analysis," Journal of Business Research, Elsevier, vol. 153(C), pages 128-149.
    5. Hossain, Md Afnan & Akter, Shahriar & Yanamandram, Venkata, 2021. "Why doesn't our value creation payoff: Unpacking customer analytics-driven value creation capability to sustain competitive advantage," Journal of Business Research, Elsevier, vol. 131(C), pages 287-296.
    6. Shah, Tushar R., 2022. "Can big data analytics help organisations achieve sustainable competitive advantage? A developmental enquiry," Technology in Society, Elsevier, vol. 68(C).
    7. Guanqiao Zhang & Tao Wang & Yuhan Wang & Shuai Zhang & Wenhao Lin & Zixin Dou & Haitao Du, 2023. "Study on the Influencing Factors of Digital Transformation of Construction Enterprises from the Perspective of Dual Effects—A Hybrid Approach Based on PLS-SEM and fsQCA," Sustainability, MDPI, vol. 15(7), pages 1-22, April.
    8. Motamarri, Saradhi & Akter, Shahriar & Hossain, Md Afnan & Dwivedi, Yogesh K, 2022. "How does remote analytics empowerment capability payoff in the emerging industrial revolution?," Journal of Business Research, Elsevier, vol. 144(C), pages 1163-1174.
    9. Showimy Aldossari & Umi Asma’ Mokhtar & Ahmad Tarmizi Abdul Ghani, 2023. "Factor Influencing the Adoption of Big Data Analytics: A Systematic Literature and Experts Review," SAGE Open, , vol. 13(4), pages 21582440231, December.
    10. Dignity Paradza & Olawande Daramola, 2021. "Business Intelligence and Business Value in Organisations: A Systematic Literature Review," Sustainability, MDPI, vol. 13(20), pages 1-27, October.
    11. Chih-Hung Hsu & Ming-Ge Li & Ting-Yi Zhang & An-Yuan Chang & Shu-Zhen Shangguan & Wan-Ling Liu, 2022. "Deploying Big Data Enablers to Strengthen Supply Chain Resilience to Mitigate Sustainable Risks Based on Integrated HOQ-MCDM Framework," Mathematics, MDPI, vol. 10(8), pages 1-35, April.
    12. Chua, Celine & Li, Xue & Tan, Kim Hock & Yuen, Kum Fai, 2024. "Building sustainable performance in the maritime industry via digital resources and innovation," Transport Policy, Elsevier, vol. 149(C), pages 282-299.
    13. Oduro, Stephen & De Nisco, Alessandro & Mainolfi, Giada, 2023. "Do digital technologies pay off? A meta-analytic review of the digital technologies/firm performance nexus," Technovation, Elsevier, vol. 128(C).
    14. Huynh, Minh-Tay & Nippa, Michael & Aichner, Thomas, 2023. "Big data analytics capabilities: Patchwork or progress? A systematic review of the status quo and implications for future research," Technological Forecasting and Social Change, Elsevier, vol. 197(C).
    15. Shobhana Chandra & Sanjeev Verma, 2023. "Big Data and Sustainable Consumption: A Review and Research Agenda," Vision, , vol. 27(1), pages 11-23, February.
    16. Olusegun Sadiq & Dieu Hack-Polay & Ted Fuller & Mahfuzur Rahman, 2022. "Barriers to the Effective Integration of Developed ICT for SMEs in Rural NIGERIA," Businesses, MDPI, vol. 2(4), pages 1-26, November.
    17. Akter, Shahriar & Hossain, Md Afnan & Sajib, Shahriar & Sultana, Saida & Rahman, Mahfuzur & Vrontis, Demetris & McCarthy, Grace, 2023. "A framework for AI-powered service innovation capability: Review and agenda for future research," Technovation, Elsevier, vol. 125(C).
    18. Justy, Théo & Pellegrin-Boucher, Estelle & Lescop, Denis & Granata, Julien & Gupta, Shivam, 2023. "On the edge of Big Data: Drivers and barriers to data analytics adoption in SMEs," Technovation, Elsevier, vol. 127(C).
    19. Fernando ALMEIDA & Samantha LOW-CHOY, 2021. "Exploring The Relationship Between Big Data And Firm Performance," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 13(3), pages 43-57, September.
    20. Perdana, Arif & Lee, Hwee Hoon & Koh, SzeKee & Arisandi, Desi, 2022. "Data analytics in small and mid-size enterprises: Enablers and inhibitors for business value and firm performance," International Journal of Accounting Information Systems, Elsevier, vol. 44(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:jglont:v:14:y:2024:i:1:d:10.1007_s40497-024-00396-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.