Abstract:

Artificial Intelligence, Machine Learning, and Big Data technologies have been increasingly adopted by entrepreneurs and becoming key drivers in driving innovation, enhancing business competitiveness and productivity (Manyika et al., 2011; Alghamdi & Agag, 2023). These cutting-edge technologies empower organizations to optimize operation and business processes, predict customer needs, run personalized and targeted campaigns, and make informed decisions (Power, 2008; Bharadiya, 2023). Industry giants such as Google, Amazon, Netflix for example have successfully harnessed these technologies to develop data-centric strategies aimed at enhancing service delivery, operational efficiency, elevating customer satisfaction, and securing market leadership (Kane, 2018). However, a crucial question remains – is this data-driven approach solely a game of large enterprises, or can it be also effectively adopted by Small and Medium-sized Enterprises (SMEs) and Craft businesses, especially in the context of Germany? (Goar & Yadav, 2022). If yes, to which extent data-driven strategies can be implemented in SMEs and Crafts in Germany? Which aspects of data-driven strategies are most relevant, applicable and beneficial for those organizations?