Mathematics: The Backbone of Smart Business Decisions

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Author(s): Nisha Nisha (CT Institute of Technology and Research, India)and Mahmoud Abouagwa (Independent Researcher, UAE)
Copyright: 2026
Pages: 24
Source title: Marketing Strategies for Total Quality Management in Hospitality Excellence
Source Author(s)/Editor(s): Varinder Singh Rana (City University, Ajman, UAE), Babeet Gupta (City University, Ajman, UAE), Nittan Arora (CT Institute of Management and Technology, India)and Beenish Shameem (City University, Ajman, UAE)
DOI: 10.4018/979-8-3693-8608-8.ch009

Keywords: Business & Management / Business Science Reference / Hospitality, Travel, and Tourism Management / Marketing

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Abstract

Mathematics is essential to decision-making in today's data-driven business climate because it helps firms analyze data, maximize resources, forecast trends, and efficiently manage risks. The importance of mathematics in a variety of business processes, such as operations, financial management, business analytics, strategic planning, and quality control, is examined in this chapter. Important mathematical methods are explored, emphasizing how they are used in actual business situations. These methods include statistics, probability, optimization, financial modeling, and game theory. Mathematical decision-making has drawbacks despite its advantages, including poor data quality, computational constraints, and human biases. Comprehending these obstacles guarantees the efficient utilization of mathematical instruments, propelling corporate efficacy, financial gain, and sustained prosperity in a progressively intricate and cutthroat environment.

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