POTENTIAL CRITICAL FACTORS INFLUENCING THE MATURITY OF BUSINESS ANALYTICS IN SRI LANKA – A SYSTEMATIC LITERATURE REVIEW

Abstract

In the rapidly evolving, data-driven business landscape, organizations leverage vast amounts of data from various sources to enhance efficiency, decision-making, and financial performance. Business Analytics (BA), defined as the use of data, IT, statistical analysis, quantitative methods, and computer-based models, plays a crucial role in this context. The maturity of business analytics, which measures an organization's analytics competency, is pivotal for making informed, data-driven decisions. This systematic literature review investigates the potential critical factors influencing business analytics maturity in Sri Lanka's apparel and software industries. This review utilized the PRISMA framework to identify and screen relevant literature, resulting in the selection of 43 papers that met the inclusion criteria, focusing on business analytics maturity and its influencing factors, using the Technology-Organization-Environment (TOE) framework. The review identifies and categorizes key factors such as compatibility, data management, data infrastructure, technology-supporting infrastructure, trust-in-technology, top management support, organizational culture, organizational readiness, and environmental factors including regulations and competition pressure as the potential factors that could affect the BA maturity of Sri Lankan apparel and software industry. The analysis reveals that top management support, organizational culture, data management, and robust technology infrastructure are the most significant determinants of BA maturity. The findings suggest that while these factors are widely recognized in broader contexts, their applicability and impact within Sri Lanka's unique business environment require empirical validation. Consequently, this review highlights the necessity for future research to test these factors specifically in Sri Lanka's software and apparel industries.