Global Business Analytics Models: Concepts and Applications in Predictive, Healthcare, Supply Chain, and Finance Analytics

5. Essentials for the Successful Implementation of Business Analytics

5.1 Understanding the Voice of Overseas Customers

The free trade movement in the past few decades opened once-protected foreign markets to firms outside those market territories seeking greater customer bases. Although the globalization of business activities presents many opportunities, it also creates unprecedented challenges. Those challenges include different customer behavior as a result of cultural traits unique to a target foreign country, different rules and regulations of the host foreign country, traditional business customs ingrained in the foreign market, and uncertainty involved in the foreign country’s political and economic systems. For example, some Asian (especially ...