The Application of Artificial Intelligence and Data Analytics in Supporting Entrepreneurial Business Decision-Making

Abstract

Business and economic dynamics are crucial for understanding how a business can thrive and survive amidst environmental change. Rapid globalization, technological innovation, and shifts in consumer behavior have created new challenges and opportunities for entrepreneurs. This research aims to analyze the basic concepts of business, its functions, and the relationship between business and the economic system and the business environment from an entrepreneurial perspective. This research employs qualitative methods using literature review techniques, collecting and analyzing various relevant literature sources on business and economic concepts. This study focuses on the use of Dewi Puspaningtyas Faeni's book " Becoming an Entrepreneur " as the primary reference, supported by various other scientific sources to enrich the analysis and discussion. The study's findings reveal that the role of business extends beyond profit-making. Business also serves as a means of creating economic and social benefits, meeting societal needs, and adapting to changes in the dynamic economic environment. Furthermore, internal and external environmental factors significantly influence a business's sustainability and competitiveness. Effective management, innovation, and adaptability are crucial elements in facing increasingly dynamic business competition. Therefore, an understanding of business and economic dynamics is essential for entrepreneurs to formulate appropriate strategies to maintain business continuity and achieve long-term success.