The impact of business intelligence and financial management on sales growth in manufacturing companies

Economic Annals-XXI: Volume 214, Issue (3-4), Pages: 64-70

Citation information

Mohammad, A. A. Sh., Mohammad, S. I., Barros, V., Vasudevan, A., Zokirov, J., & Usmonova, M. (2025). The impact of business intelligence and financial management on sales growth in manufacturing companies. Economic Annals-XXI, 214(3-4), 64-70. doi: https://doi.org/10.21003/ea.V214-09

Anber Abraheem Shlash Mohammad
PhD (Marketing),
Digital Marketing Department,
Faculty of Administrative and Financial Sciences,
University of Petra
Airport Road, Amman, 961343, Jordan
-mohammad197119@yahoo.com
ORCID ID: https://orcid.org/0000-0003-3513-3965

Suleiman Ibrahim Mohammad
PhD (Finance),
Department of Electronic Marketing and Social Media,
Economic and Administrative Sciences, Zarqa University
Damascus Hwy, Zarqa, 132010, Jordan;
Research Follower,
INTI International University
Persiaran Perdana BBN, Putra Nilai, Nilai, N.Sembilan, 71800, Malaysia
dr_sliman@yahoo.com
ORCID ID: https://orcid.org/0000-0001-6156-9063

Victor Barros
PhD (Information Systems),
Department of Computers Techniques Engineering,
College of Technical Engineering
2975+9RM, Al-Mahafath Str., Najaf, 54001, Iraq;
Department of Information Systems,
School of Engineering,
University of Minho Rua da Universidade
Rua da Universidade, Braga, 4710-057, Portugal
vfbarros@dsiuminho.pt
ORCID ID: https://orcid.org/0000-0002-7318-8257

Asokan Vasudevan
PhD (Commerce),
Faculty of Business and Communications,
INTI International University
Persiaran Perdana BBN, Putra Nilai, Nilai, N.Sembilan, 71800, Malaysia;
Shinawatra University
99 Moo 10, Bangtoey, Samkhok, Pathum Thani, 12160, Thailand
asokan.vasudevan@newinti.edu.my
ORCID ID: https://orcid.org/0000-0002-9866-4045

Zokirov Javohir
PhD (Education),
Researcher,
Termiz University of Economics and Service
4-B Farovon Str., Termez, Surxondaryo, 190111, Uzbekistan
javohir_zokirov@tues.uz
ORCID ID: https://orcid.org/0009-0006-9933-4415

Usmonova Muattar
PhD (Pedagogy),
Department of Creative Pedagogy and Psychology,
Namangan State Pedagogical Institute
316 Uychi Str., Namangan, 160136, Uzbekistan
muattarusmonova1988@gmail.com
ORCID ID: https://orcid.org/0009-0006-5167-3610

The impact of business intelligence and financial management on sales growth in manufacturing companies

Abstract. This study examined the impact of business intelligence and financial management on sales growth in Jordanian manufacturing companies. This research is applied regarding the purpose and is descriptive-survey in terms of method. The statistical population of the study included managers of 120 manufacturing companies active in various industries in Jordan, from which 180 senior and middle managers were selected using a stratified random sampling method in 2024. The data were collected through a researcher-made questionnaire and analyzed using structural equation modeling. The path coefficient of business intelligence was 0.46 and financial management was 0.32, hence both significantly and directly impacted sales growth in Jordanian manufacturing firms. Business intelligence also indirectly affects sales growth through its effect on financial management; the path coefficient is 0.48. The variance explained for the final model regarding sales growth in the Jordanian sample was 62%. Hence, these results show that it is important to give due attention to the parallel development of business intelligence and financial management in Jordanian manufacturing companies.

Keywords: Business Intelligence; Financial Management; Sales Growth; Jordanian Manufacturing Companies; Structural Equations

JEL Classifications: Е24; Е41; Е64; I18; J28; J31

Acknowledgements and Funding: This research is funded by INTI International University.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is available from the authors upon request.

DOI: https://doi.org/10.21003/ea.V214-09

References

1. Ali, M. H., Breesam, H. M., Rashed, Y. A., Qusai, N., Flayyih, M. R., & Naser, S. J. (2024). Descriptive study on financial management practices, features and profitability of small and medium enterprises. Procedia Environmental Science, Engineering and Management, 11(2), 161-173. https://www.procedia-esem.eu/pdf/issues/2024/no2/16_Ali_24.pdf
2. Alonge, E. O., Eyo-Udo, N. L., Ubanadu, B. C., Daraojimba, A. I., Balogun, E. D., & Ogunsola, K. O. (2025). Leveraging business intelligence for competitive advantage in the energy market: A conceptual framework. International Journal of Management & Entrepreneurship Research, 7(3), 184-197. https://doi.org/10.51594/ijmer.v7i3.1844
3. Azkiya, S., & Wandebori, H. (2025). Business strategy development for Indonesian SMEs in precision manufacturing: a case study of pt. xyz. Inovasi, 12(1), 264-279. https://doi.org/10.32493/Inovasi.v12i1.p264-279.47677
4. Dohale, V., Verma, P., Gunasekaran, A., & Akarte, M. (2023). Manufacturing strategy 4.0: A framework to usher towards industry 4.0 implementation for digital transformation. Industrial Management & Data Systems, 123(1), 10-40. https://doi.org/10.1108/IMDS-12-2021-0790
5. Felsberger, A., Qaiser, F. H., Choudhary, A., & Reiner, G. (2022). The impact of Industry 4.0 on the reconciliation of dynamic capabilities: Evidence from the European manufacturing industries. Production Planning & Control, 33(2-3), 277-300. https://doi.org/10.1080/09537287.2020.1810765
6. Ghobakhloo, M., & Fathi, M. (2020). Corporate survival in Industry 4.0 era: The enabling role of lean-digitized manufacturing. Journal of Manufacturing Technology Management, 31(1), 1-30. https://doi.org/10.1108/JMTM-11-2018-0417
7. Gomaa, A. (2025). Advancing manufacturing excellence in the Industry 4.0 era: A comprehensive review and strategic integrated framework. Supply Chain Research, 2(2), 102-120. https://doi.org/10.59429/scr.v2i2.10220
8. Kazemi, A., Kazemi, Z., Heshmat, H., Nazarian-Jashnabadi, J., & Tomášková, H. (2024). Ranking factors affecting sustainable competitive advantage from the business intelligence perspective: Using content analysis and F-TOPSIS. Journal of Soft Computing and Decision Analytics, 2(1), 39-53. https://doi.org/10.31181/jscda21202430
9. Kyläheiko, K., & Maijanen, P. (2020). Industry 4.0. Transformation challenge in light of dynamic capabilities. In Collan, M., & Michelsen, K. E. (Eds). Technical, Economic and Societal Effects of Manufacturing 4.0 (pp. 169-189). Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-46103-4_9
10. Latif, K., Naaz, T., & Ashfaq, K. (2025). Role of green initiatives in sustainable performance of manufacturing sector: Moderation and mediation effects. Global Management Sciences Review, 10(3), 74-81. https://www.researchgate.net/publication/395106449_Role_of_Green_Initiatives_in_Sustainable_Performance_of_Manufacturing_Sector_Moderation_and_Mediation_Effects
11. Murti, G. T., Winarningsih, S., & Sukmadilaga, C. (2023). Empirical study of business intelligence systems and their influence on innovation performance. Economic Annals-XXI, 201(1-2), 15-21. https://doi.org/10.21003/ea.V201-02
12. Tana, G., & Chai, J. (2023). Digital transformation: Moderating supply chain concentration and competitive advantage in the service-oriented manufacturing industry. Systems, 11(10), 486-499. https://doi.org/10.3390/systems11100486
13. Wang, F., & Aviles, J. S. (2023). Enhancing operational efficiency: Integrating machine learning predictive capabilities in business intelligence for informed decision-making. Frontiers in Business, Economics and Management, 9(1), 869-881. https://doi.org/10.54097/fbem.v9i1.8694

Received 20.01.2025
Received in revised form 16.02.2025
Accepted 25.02.2025
Available online 29.04.2025