From Historical Records to Modern Data Science: The Evolution of Data Analytics in Business History

Nowadays, researchers have increased their attention to the historical research and the evolution of the data and their analysis as they are being aware of the importance and the information it can be understood from it. There are several concepts which define the historical research. Indeed, historical research is being aware of the information and studying the past. It is the collection of the past and the set of memories. This type of research is essential for all of us to be able to understand what is happening in the world around us. The historical research is necessary even though the results are not visible and cannot be considered immediate. Hence, this study considers the evolution of the data and its implications for the business organization nowadays. The literature review shows that implementation of Artificial Intelligence (AI) allows the organization to design and commercialize a variety of products and services which allows them to diversify the products or services and increase the share of the market. Moreover, the emphasis is mainly on the design of products and services using AI which allows the firms to value creation. Clients are part of the process of value creation and there is direct relation between the organizations and clients, with the support of AI. Value delivery is possible by the digital products and services and the innovation which is brought by them. Instead, value capture is being allowed by the streams of revenues that are related to the variety of products and services. Overall, all products and services that are being used in smart homes or cars through AI tend to increase the interaction with the clients and fill their needs.