Business Analytics and Decision-Making: Models, Algorithms and Applications

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Mathematics and Computer Science".

Deadline for manuscript submissions: 20 July 2025 | Viewed by 3476

Special Issue Editor


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Guest Editor
Department of Management, The University of Akron, Akron, OH 44325-4801, USA
Interests: uncertainty reasoning in artificial intelligence, belief functions, decision theories, information systems, research methodologies

Special Issue Information

Dear Colleagues, 

Business analytics is currently one of the fastest growing research fields. Its growth can be attributed to two primary factors: (a) the need to process a staggering amount of data in various organizations; and (b) the availability of a wide range of mathematical and statistical, as well as decision theories, operations research, machine learning, information systems, and artificial intelligence models and algorithms. This Special Issue seeks to publish a collection of current research on the use of mathematical models and/or machine learning algorithms for solving business problems ranging from productivity to sustainability. It welcomes articles that advance the classic analytics models and algorithms in response to emerging business needs and their applications to real-world business problems such as fraud reduction, production planning, actuarial estimates of financial damages, customer segmentation, etc. It also welcomes proposals of new theoretical models and algorithms such as latent Dirichlet allocation and non-parametric Bayesian learning that overcome the limitations of the classical ones.  Due to the recent growth in the use of generative AI tools such as ChatGPT, this Special Issue also seeks articles that explore and experiment how businesses can integrate generative AI capabilities into the existing business processes.

Prof. Dr. Liping Liu
Guest Editor

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Keywords

  • business analytics
  • predictive analytics
  • machine learning
  • Bayesian learning
  • deep learning
  • fuzzy logic
  • Dempster–Shafer theory
  • generative AI

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Published Papers (3 papers)

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Research

29 pages, 2938 KiB  
Article
Causal Modeling of Academic Activity and Study Process Management
by Saulius Gudas, Vitalijus Denisovas and Jurij Tekutov
Mathematics 2024, 12(18), 2810; https://doi.org/10.3390/math12182810 - 11 Sep 2024
Viewed by 364
Abstract
This article presents a causal modeling approach for analyzing the processes of an academic institution. Academic processes consist of activities that are considered self-managed systems and are defined as management transactions (MTs). The purpose of this article is to present a method of [...] Read more.
This article presents a causal modeling approach for analyzing the processes of an academic institution. Academic processes consist of activities that are considered self-managed systems and are defined as management transactions (MTs). The purpose of this article is to present a method of causal modeling of organizational processes, which helps to determine the internal model of the current process under consideration, its activities, and the processes’ causal dependencies in the management hierarchy of the institution, as well as horizontal and vertical coordination interactions and their content. Internal models of the identified activities were created, corresponding to the MT framework. In the second step, based on the causal model, a taxonomy of characteristics is presented, which helps to systematize the process quality assessment and ensures the completeness of the characteristics and indicators. Predefined structures of characteristic types are the basis of activity content description templates. Based on the proposed method, two causal models are created: the “to-be” causal model of the target study process (based on expert knowledge) and the “as-is” documented (existing) model of the study process used to evaluate the study process’s quality. The principles and examples of comparing the created “to-be” causal model with the existing study process monitoring method are presented, enabling the detection of the shortcomings in the existing method for assessing academic performance. Causal modeling allows for the rethinking of existing interactions and the identification of necessary interactions to improve the quality of studies. The comparison based on causal modeling allows for a systematic analysis of regulations and the consistent identification of new characteristics (indicators) that evaluate relevant aspects of academic processes and activities. Full article
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26 pages, 4749 KiB  
Article
Incorporating Multi-Source Market Sentiment and Price Data for Stock Price Prediction
by Kui Fu and Yanbin Zhang
Mathematics 2024, 12(10), 1572; https://doi.org/10.3390/math12101572 - 17 May 2024
Viewed by 1524
Abstract
The problem of stock price prediction has been a hot research issue. Stock price is influenced by various factors at the same time, and market sentiment is one of the most critical factors. Financial texts such as news and investor comments reflect investor [...] Read more.
The problem of stock price prediction has been a hot research issue. Stock price is influenced by various factors at the same time, and market sentiment is one of the most critical factors. Financial texts such as news and investor comments reflect investor sentiment in the stock market and influence market movements. Previous research models have struggled to accurately mine multiple sources of market sentiment information originating from the Internet and traditional sentiment analysis models are challenging to quantify and combine indicator data from market data and multi-source sentiment data. Therefore, we propose a BERT-LLA stock price prediction model incorporating multi-source market sentiment and technical analysis. In the sentiment analysis module, we propose a semantic similarity and sector heat-based model to screen for related sectors and use fine-tuned BERT models to calculate the text sentiment index, transforming the text data into sentiment index time series data. In the technical indicator calculation module, technical indicator time series are calculated using market data. Finally, in the prediction module, we combine the sentiment index time series and technical indicator time series and employ a two-layer LSTM network prediction model with an integrated attention mechanism to predict stock close price. Our experiment results show that the BERT-LLA model can accurately capture market sentiment and has a strong practicality and forecasting ability in analyzing market sentiment and stock price prediction. Full article
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18 pages, 1298 KiB  
Article
A Comparative Analysis of Multi-Criteria Decision Methods for Personnel Selection: A Practical Approach
by Pablo A. Pinto-DelaCadena, Vicente Liern and Andrea Vinueza-Cabezas
Mathematics 2024, 12(2), 324; https://doi.org/10.3390/math12020324 - 19 Jan 2024
Cited by 5 | Viewed by 1157
Abstract
This research focused on decision-making supported by multi-criteria decision methods, specifically TOPSIS, OWA, and their respective variants within personnel selection. The study presented models aimed at facilitating the selection of the best candidate for a job through competency-based assessments and comparing the application [...] Read more.
This research focused on decision-making supported by multi-criteria decision methods, specifically TOPSIS, OWA, and their respective variants within personnel selection. The study presented models aimed at facilitating the selection of the best candidate for a job through competency-based assessments and comparing the application of four methods across various scenarios. We employed methods such as TOPSIS, OWA, and two variations (Canós–Liern method and an OWA model based on mathematically replicating expert opinion). Each model provided distinct rankings and demonstrated adaptability to specific situations within a company. Furthermore, it was emphasized that each method could and should be tailored according to the company’s reality to derive maximum benefit from its implementation. A crucial aspect of securing the best candidates involves understanding the context and identifying the appropriate methodology. Full article
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