PROJECT PROPOSAL

ON

QUALITATIVE ANALYSIS OF ENHANCED BUSINESS STRATEGIES AND

DECISION PROCESS THROUGH DATA ANALYTICS: AN EXPLORATION OF ITS
IMPACT ON NIGERIAN SMEs.

NAME:

STUDENT NO.:

WORD COUNT: 1986

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Table of Contents
1.0 Introduction...........................................................................................................................2
1.1 Rationale...........................................................................................................................3
1.3 Research Objectives..........................................................................................................3
1.4 Research Questions...........................................................................................................4
2.0 Indicative literature review...................................................................................................5
3.0 Research design and methods...............................................................................................7
3.1 Risk and Contingencies.....................................................................................................8
3.1.1 Timeline.....................................................................................................................8
References........................................................................................................................................9
Appendix........................................................................................................................................11

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1.0 Introduction
In recent years, Big Data has been making waves in the business world, and its influence is only
growing. The sheer amount of data produced daily is overgrowing, and making sense of this
information is increasingly necessary. Utilizing Big Data analytics allows businesses to
understand their operations better and create valuable insight into their products and services.
Hence, the business environment is evolving quickly, generating uncertainty about trends and
creating significant organizational obstacles (Mosco, 2019). Implementing big data analytics
within an organization provides the opportunity to shake up the composition of senior
management and change the decision-making process. Jagtap & Duong (2019) present a strong
argument for the disruptive influence of big data analytics on current working methods for
directors and decision-makers. Zhuo & Zhang (2019) observed a cognitive shift in organizations,
shifting decision-making capabilities from experience and intuition to the use of data to make the
best decisions (Kostakis & Kargas, 2021). Furthermore, Lunde et al. (2019) asserted that the
rapid growth of big data analytics enables decision-makers to make sound decisions at a faster
pace based on data of a higher calibre; in which in the 21st century, big data has quickly become
one of the most popular tools for companies of all sizes to use to improve their business
processes and operations.

Lately, increased focus has been directed to adequately using data analytics systems for their
impacts on small-scale business effectiveness. SMEs utilize the data analytics framework to
recognize their status, assess corporate efficiency, connect with stakeholders, and create viable
market opportunities (Phillips-Wren & McKniff, 2020). Implementing data analytics in the SME
industry has benefited affluent countries, aiding in the optimization of resources, improved
access to data, incorporated knowledge management, and enhanced business growth
(Maheshwari et al., 2021). According to (Maheshwari et al. (2021), in SMEs, data analytics is
invaluable in helping to decrease production and labour expenses, recognize valuable data for
decision-making, heighten the productivity and profitability of companies, and grant a more
robust competitive footing (Maheshwari et al., 2021). It also bolsters the ability of SMEs to
comprehend the marketplace more, particularly as consumer needs are ever-shifting
(Maheshwari et al., 2021). Transforming data into meaningful insights facilitates successful and
informed choices in a commercial setting (Phillips-Wren & McKniff, 2020). Through acquiring

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new customers, selling products to customers, entering new markets, and forming enterprise
collaborations with other businesses, the value of Data analytics in businesses is ever-increasing.
The successful implementation of Data analytics systems in organizations wishing to increase
yield or promote rational decisions -is highly critical (Maheshwari et al., 2021).

1.1 Rationale

Small and medium-sized enterprises play a considerable role in economic development in every
country. As they try to respond to the ever-changing market conditions, their success can be
significantly improved by leveraging the power of business intelligence technology. The
advantages of this technology for SMEs are numerous, but the required investment for
implementation remains a significant concern (Sharma et al., 2021). SMEs need to be aware of
financial support available for businesses in the form of grants and other assistance, which might
help them progress with adopting data analytics technology to capture a larger market share
(Tortora et al., 2021).

Despite its potential, small and medium-sized firms frequently restrict data analytics creativity
due to limited resources (Tortora et al., 2021). Regardless, some SMEs still maintain strategic
data intelligence due to the continuously evolving nature of knowledge. In Africa, SMEs usually
opt for a more affordable version of data analytics technology to balance financial capabilities
against needed productivity and projected gains (Sharma et al., 2021). Consequently, data
analytics in African small-scaled businesses have become an increasingly crucial factor in any
business decision-making process, and according to Sharma et al. (2018), the African SMEs
industry is currently undergoing a period of transformation as it adapts to the demands of the
21st century. As a result, its SMEs are increasingly turning to data-driven solutions to optimize
their operations. With this in mind, this research examines enhancing business strategies and
decision processes through data analytics in the African SMEs industry (Tortora et al., 2021).

1.3 Research Objectives

The aim is qualitatively analyze enhanced business strategies and decision-making processes
through the use of data analytics: an exploration of its impacts on Nigerian SMEs. This research
will

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 1. Examine the current Data Analytics practices of African SMEs.
2. Analyze the impact of data analytics on Nigerian SMEs' in improving business strategies
& decision-making processes.
3. Analyze the efficacy of Data Analytics in maximizing the performance of Nigerian
SMEs.
4. Recommend implementations of Data Analytics in Nigerian SMEs for better
management of business strategies.
1.4 Research Questions
1. What are the current practices of Data Analytics among Sub-Saharan SMEs?
2. Why is data analytics impactful on Nigerian SMEs' in improving business strategies and
decision-making processes?
3. How is the efficacy of Data Analytics in maximizing the performance of Nigerian SMEs?

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2.0 Indicative literature review
The theoretical framework for this research can be founded upon the Resource Based View
(RBV) of the firm which fundamentally proposes that the resources and capabilities of a firm are
often the basis for its managing competitive advantage and thus its sustained profitability
(Donnellan & Rutledge, 2019). According to the RBV, the visibility of a firm’s resources and
capabilities is comparative to that of its competitors and therefore inherently gives it a
competitive edge (Zahra, 2021). In the Nigerian SME context, this means that SMEs that possess
effective data analytics capabilities -such as the ability to analyze large amounts of data quickly
and create meaningful insights- will be able to perform better in decision-making and business
strategies than antecedents who do not have such capacity. It is then reasonable to theorize that
firms with better data analytics capabilities will have a competitive advantage over other SMEs,
and the extent of this advantage or the efficacy of the technology will depend on how well the
technology is implemented and managed (Zahra, 2021; Donnellan & Rutledge, 2019). Therefore,
by understanding how Nigerian SMEs have implemented data analytics to improve business
strategies and decision-making processes, and by exploring how these strategies have impacted
the performance and productivity of the firms, the effectiveness of data analytics in the Nigerian
SME context can be determined (Phillips-Wren & McKniff, 2020). Additionally, the research
could look at factors that explain why some firms are implementing the technology more
efficiently than others so as to form recommendations to improve the effectiveness of data
analytics in Nigerian SMEs.

Data analytics capability has been conceptualized as a holistic process including data collection,
analysis, usage, and interpretation for functional divisions to gain actionable observations and
develop strategic gain (Phillips-Wren & McKniff, 2020). In Sub-Saharan Africa, both small and
large businesses from diversified consumption centres are investing resources in advancing
digital infrastructures for their navigation around an ever-changing setting and better
organizational count (Tortora et al., 2021) to enduringly dominate the contested developing
markets. For example, instituted research about SMEs has reported that employment of data
analytics in their respective activities was noticeably critical for their good showings and
prosperity of the continent, as considered by Maheshwari et al. (2021). Phillips-Wren & McKniff
(2020) study on the implementation of data analytics further pinpoints it as a capability-grounded

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characteristic and an unfaltering current passing through many small-scale businesses for growth
in Africa. Zahra (2021) viewed it as having three parts which involve portraying abilities (ability
to depict technological commodities as a consequence of the external environment and the
impact from their presentation items to create and assess to make decisions), acquiring
capabilities (handling crucial resources for benefit materialization) and allocation enterprises
(consumable drive transformational competences by combining newest tools and existing
capabilities). Hence, it is considered a tool to enhance business strategies and make informed
decisions among SMEs in developing countries (Donnellan & Rutledge, 2019).

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3.0 Research design and methods
The proposed methodology provides a comprehensive way to answer the aim and research
questions of the research. The interpretivist research philosophy, exploratory research design,
qualitative research strategy, and data sampling and collection methods combined with semi-
structured interviews and a subjective data analysis process will provide the best opportunity for
exploring enhanced business strategies and decision-making processes through the use of data
analytics, and its impacts on Nigerian SMEs.

Research Philosophy: The philosophical approach of this research methodology will be based on
an interpretivism view, as it focuses on capturing the interpreted meaning of the phenomenon
being studied. The meaning of the event and activity can be derived through the encounter of an
event or by engaging in an activity, thereby giving guidance on available options for bold action.
Hence, it is a holistic and interpretive approach that adds value by drawing connections between
diverse situations or phenomena (Urcia, 2021; Burns et al., 2022).

Research Design: This study will utilize an exploratory-descriptive research design, as it allows
the researcher to gain an in-depth understanding of the topic being investigated - i.e. Enhancing
Business Strategies and Decision-making through Data Analytics: An exploration of its Impact
on Nigerian SMEs. The focus will be on how data analytics can impact Nigerian SMEs'
decision-making and strategic development processes in shedding light on the potential reliable
consequences of such an investigation of these phenomenal associations. These exploratory-
descriptive methods are essential when the research objectives are observational and allow an in-
depth understanding of situations (Burns et al., 2022).

Research Method: Two data collection sources will be used in this research. Semi-structured
interviews will be conducted with Owner-Managers who have adopted data analytics in their
business decisions and strategies. Semi-structured interviews will give participants autonomy to
respond to the topic of conversation and talk about their experiences in the process and compare
the current business climate of SMEs in their decision-making towards data-driven approach.
(Bleiker et al., 2019)

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In addition, this study will use document analysis to identify patterns of data analytics utilization
by Nigerian SMEs and to review existing literature in line with the study’s aim and research
questions. Document analysis sources include published articles, academic, industry journals etc.
that will provide the necessary information on the selected field of relevance. These combined
sources will help to gauge the opinions & perceptions of stakeholders and researchers, and
explore the themes at a deeper level. (Saunders et al., 2016).

Data Sampling and Collection: The participants for this study will be recruited using a
convenient and purposive sampling technique which will involve targeting Owner-Managers of
small and medium-sized enterprises (SMEs) and selected from different cities in Nigeria that
have adopted data analytics in their business decisions and strategies. The data collection for the
study includes interviews from 10 SMEs participants, and a document analysis from 12 relevant
documents (articles, annual reports, publications or journals). Through the interviews, the
researcher will be able to ascertain the opinions of participants from the relevant industries, and
the document analysis will enable the researcher to analyze the current impact in practice within
Nigerian SMEs (Newman, 2019).

Data Analysis: All the collected data were transcribed using an audio transcriber with the
interviewer acting as the moderator. The data will be analyzed using thematic analysis to
familiarize with the data, open code work, collate the codes with supporting data, grouping the
codes into themes, reviewing and finalizing themes, and writing reports analyzed and interpreted
from the data. The researcher will be able to identify and interpret the key patterns of the study’s
aim and research questions, while relevant quotes from the analysis to support the researcher’s
findings will be used. Also, using content analysis from documents reviewed for further
interpretation of the data. Finally, the analyzed and interpreted results will be discussed and
synthesized (Parashar & Ghai, 2017). Once the analysis is completed, the findings will be
compared to the literature review which was conducted at the beginning of the project.

Ethics: A comprehensive ethical approach ensures the research proceeds with a reliable and
scientifically valid method. As research involving human subjects is known to cause potential
discomfort or harm, the researcher should ensure the respondents are kept abreast of the study's
aims via an informed consent paper that must be read and signed before the commencement of

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any interview. Moreover, all information collected confidently must be kept in a safe
environment with no personal identification that would violate the jurisdiction, Privacy Laws.
Aside from the safety of all involved, the researcher is mindful not to cause any bias in the result
due to personal beliefs and opinions (Burns et al., 2022).

3.1 Risk and Contingencies:

Data security and fraud are a real risk to every research study, and this study, Enhancing
Business Strategies and Decision Process through Data Analytics: An Exploration of its Impact
on African SMEs, are no exception. Price rise and inflation are potential risks that affect the time
frame of the completion of the research study. The other common risk is respondents who are
uncomfortable participating in the research due to lack of time, mental attitude, and others.
Should any of the risks materialize, the researcher is prepared to elaborate and improvise enough
to keep the research moving in the right direction. This might include talking to stakeholders and
renegotiating with opinion specialists.

3.1.1 Timeline:

The research will be completed within 13 weeks (see appendix)

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References

Bleiker, J., Morgan-Trimmer, S., Knapp, K., & Hopkins, S. (2019). Navigating the maze:
Qualitative research methodologies and their philosophical foundations. Radiography, 25, S4-S8.

Burns, M., Bally, J., Burles, M., Holtslander, L., & Peacock, S. (2022). Constructivist grounded
theory or interpretive phenomenology? Methodological choices within specific study
contexts. International Journal of Qualitative Methods, 21, 16094069221077758.

Donnellan, J., & Rutledge, W. L. (2019). A case for resource ‐based view and competitive
advantage in banking. Managerial and Decision Economics, 40(6), 728-737.

Jagtap, S., & Duong, L. N. K. (2019). Improving the new product development using big data: A
case study of a food company. British Food Journal, 121(11), 2835-2848.
Kostakis, P., & Kargas, A. (2021). Big-Data Management: A Driver for Digital
Transformation?. Information, 12(10), 411.
Lunde, T. Å., Sjusdal, A. P., & Pappas, I. O. (2019). Organizational culture challenges of
adopting big data: a systematic literature review. In Digital Transformation for a Sustainable
Society in the 21st Century: 18th IFIP WG 6.11 Conference on e-Business, e-Services, and e-
Society, I3E 2019, Trondheim, Norway, September 18–20, 2019, Proceedings 18 (pp. 164-176).
Springer International Publishing.

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Maheshwari, S., Gautam, P., & Jaggi, C. K. (2021). Role of Big Data Analytics in supply chain
management: current trends and future perspectives. International Journal of Production
Research, 59(6), 1875-1900.
Mosco, V. (2019). The smart city in a digital world. Emerald Group Publishing.

Newman, M. (2019). Qualitative & Quantitative Data Analysis: 7 Strategies For Determining
Which Is Best. Retrieved from: https://www.datasciencecentral.com/profiles/blogs/qualitative-
quantitative-data-analysis-7-strategies-for

Parashar, A. & Ghai, A. (2017). Exploratory study on data analytics, insights and implications of
SMEs. International Journal Of Applied Business And Economic Research, 15(15), 99-111.

Phillips-Wren, G., & McKniff, S. (2020). Overcoming resistance to big data and operational
changes through interactive data visualization. Big Data, 8(6), 528-539.

Saunders, M.N.K., Lewis, P., & Thornhill, A. (2016). Research Methods for Business Students.
Harlow, UK: Pearson Education.

Sharma, N. K., Govindan, K., Lai, K. K., Chen, W. K., & Kumar, V. (2021). The transition from
linear economy to circular economy for sustainability among SMEs: A study on prospects,
impediments, and prerequisites. Business Strategy and the Environment, 30(4), 1803-1822.
Tortora, A. M., Maria, A., Iannone, R., & Pianese, C. (2021). A survey study on Industry 4.0
readiness level of Italian small and medium enterprises. Procedia Computer Science, 180, 744-
753.
Urcia, I. A. (2021). Comparisons of adaptations in grounded theory and phenomenology:
Selecting the specific qualitative research methodology. International journal of qualitative
methods, 20, 16094069211045474.
Zahra, S. A. (2021). The resource-based view, resourcefulness, and resource management in
startup firms: A proposed research agenda. Journal of Management, 47(7), 1841-1860.
Zhuo, Z., & Zhang, S. (2019, February). Research on the Application of Big Data Management
in Enterprise Management Decision-making and Execution Literature Review. In Proceedings of
the 2019 11th International Conference on Machine Learning and Computing (pp. 268-273).

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 Appendix
Timeline

Task

Week 10

Week 11

Week 12

Week 13
Week 1

Week 2

Week 3

Week 4

Week 5

Week 6

Week 7

Week 8

Week 9
Read and establish Research
Goals
Determine research topic
Identify aim & objectives and
generate research questions
Review relevant literatures
Determine research methodology
Develop research design and
methods
Develop data collection methods
and ethical considerations
Submission of proposal
Review proposal with supervisor
Begin sourcing of research
materials for introduction
Review relevant materials for
literature review
Begin research methodology and
data collection
Data analysis and presentation of
result
Discussion of findings
Write summary and conclusion
Submission of Frist draft
Correction and adjustment
Submission of final dissertation

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