RISK MANAGEMENT MODEL IN THAILAND SMALL BUSINESSES

Abstract

This study investigates the relationships between customer data analytics maturity (CDA), technology adoption (TNA), customer engagement (CEM), and marketing effectiveness (MEF) in Thailand's hotel and tourism industry using Structural Equation Modeling (SEM). Data were collected from 400 tourists via a 5-level Likert scale questionnaire. Three hypotheses were tested. The results supported H1, revealing a significant positive effect of CDA on CEM (β = 2.518, p < 0.001). However, H2 was not supported, as TNA did not significantly influence CEM (β = -1.258, p = 0.191). Conversely, H3 was strongly supported, with CEM significantly enhancing MEF (β = 0.475, p < 0.001). The model demonstrated satisfactory fit indices (CMIN/DF = 2.862, CFI = 0.982, RMSEA = 0.068), indicating an adequate fit to the data. The findings underscore the pivotal role of CDA in driving customer engagement and marketing success, while highlighting the need for strategic alignment of technology adoption with customer-centric goals. Practical recommendations include strengthening data analytics capabilities and aligning technology investments with engagement strategies. Future research should explore moderating factors in TNA and the impact of real-time data on CEM. This study provides valuable insights for hotel and tourism businesses seeking to enhance personalized marketing through data-driven approaches.