Unveiling synergies: Business intelligence nexus with environmental and financial performance in Bangladeshi manufacturing firms

Abstract

In recent years, the rise in the utilization of business intelligence (BI) as a pivotal tool for enhancing economic performance has spurred considerable interest. This study, anchored in resource-based theory, delves into the intricate relationships among BI, environmental performance (EP), financial performance (FP), green accounting (GA), and energy efficiency (EE) within manufacturing firms in Bangladesh. Employing a multistage stratified random sampling technique, a structured questionnaire was administered to 368 participants over 5 months starting in June 2023. The study employs a comprehensive analytical method that includes disjoint two-stage PLS-based structural equation modeling, artificial neural networks, and fuzzy set qualitative comparative analysis to ensure robust and insightful results. The findings highlight the positive and significant impact of BI on EP, FP, GA, and EE for manufacturing firms, demonstrating the efficacy of BI in driving improvements across environmental and financial metrics. Notably, the study unveils the mediating effects of EE between GA and FP, as well as between BI and FP, emphasizing the crucial role of EE in bolstering financial outcomes. Moreover, EP emerges as a mediator between BI and GA, underscoring the connectedness of these constructs within the organizational frame. Pioneering in offering a BI-integrated concepts for environmental and FP, exploring mediating effects, and applying the integrated modeling approach, this research provides theoretical insights and practical implications, offering valuable guidance for stakeholders aiming to leverage BI strategies effectively.