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PurposeThe purpose of this paper is to present a novel framework for strategic decision making using Big Data Analytics (BDA) methodology.Design/methodology/approachIn this study, two different machine learning algorithms, Random Forest (RF) and Artificial Neural Networks (ANN) are employed to forecast export volumes using an extensive amount of open trade data. The forecasted values are included in the Boston Consulting Group (BCG) Matrix to conduct strategic market analysis.FindingsThe proposed methodology is validated using a hypothetical case study of a Chinese company exporting refrigerators and freezers. The results show that the proposed methodology makes accurate trade forecasts and helps to conduct strategic market analysis effectively. Also, the RF performs better than the ANN in terms of forecast accuracy.Research limitations/implicationsThis study presents only one case study to test the proposed methodology. In future studies, the validity of the proposed method can be further generalized in different product groups and countries.Practical implicationsIn today’s highly competitive business environment, an effective strategic market analysis requires importers or exporters to make better predictions and strategic decisions. Using the proposed BDA based methodology, companies can effectively identify new business opportunities and adjust their strategic decisions accordingly.Originality/valueThis is the first study to present a holistic methodology for strategic market analysis using BDA. The proposed methodology accurately forecasts international trade volumes and facilitates the strategic decision-making process by providing future insights into global markets.

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Distribution is one of the major sources of carbon emissions and this issue has been addressed by Green Vehicle Routing Problem (GVRP). This problem aims to fulfill the demand of a set of customers using a homogeneous fleet of Alternative Fuel Vehicles (AFV) originating from a single depot. The problem also includes a set of Alternative Fuel Stations (AFS) that can serve the AFVs. Since AFVs started to operate very recently, Alternative Fuel Stations servicing them are very few. Therefore, the driving span of the AFVs is very limited. This makes the routing decisions of AFVs more difficult. In this study, we formulated a multi-objective optimization model of Green Vehicle Routing Problem with two conflicting objective functions. While the first objective of our GVRP formulation aims to minimize total CO2 emission, which is proportional to the distance, the second aims to minimize the maximum traveling time of all routes. To solve this multi-objective problem, we used ɛ-constraint method, a multi-objective optimization technique, and found the Pareto optimal solutions. The problem is formulated as a Mixed-Integer Linear Programming (MILP) model in IBM OPL CPLEX. To test our proposed method, we generated two hypothetical but realistic distribution cases in Izmir, Turkey. The first case study focuses on an inner-city distribution in Izmir, and the second case study involves a regional distribution in the Aegean Region of Turkey. We presented the Pareto optimal solutions and showed that there is a tradeoff between the maximum distribution time and carbon emissions. The results showed that routes become shorter, the number of generated routes (and therefore, vehicles) increases and vehicles visit a lower number of fuel stations as the maximum traveling time decreases. We also showed that as maximum traveling time decreases, the solution time significantly decreases.