The Ansoff Matrix is a decision matrix for strategies in diversification and growth and was developed by H. Igor Ansoff in 1957 (Khajezadeh et al., 2019). The modern corporate climate has frequently been turbulent and volatile, where firms are obliged to interact international and local competitors and customers in a more regulated manner, and despite years of experience in the local market (Kurniawan et al., 2020).  The use of accurate, trustworthy, and actionable business information in decision-making inside the Ansoff matrix establishes a synergy between business intelligence, competitive intelligence, and knowledge management to make organizational strategic decisions (Kurniawan et al., 2020).  The Ansoff Matrix, which consists of continuous grow and change vectors, is a planning technique used for deliberating judgment about firm growth through product/service and market extension networks (Jintana et al., 2021). The growth vectors are market penetration, market development, product/service development and diversification moreover a solution can be a new service, a new market, or a diversified new business (Jintana et al., 2021).

Jintana J, Sopadang A, Ramingwong S. (2021). Idea selection of new service for courier business: The opportunity of data analytics. International Journal of Engineering Business Management, 13. doi:10.1177/18479790211042191

Khajezadeh, M., Niasar, M., Asli, S., Ali, D., Godarzi, M. & Asgari, Y. (2019). Application of neural network in portfolio product companies: Integration of Boston Consulting Group matrix and Ansoff matrix. International Journal of Engineering Management and Economics. 13. 809-813. doi:10.5281/zenodo.3299381

Kurniawan, D., Iswahyudin, M. D., & Suciati, T. R. (2020). SWOT analysis and

Ansoff matrix in creative food industry business development: A study on creative food business “Komala”. Open Access Indonesia Journal of Social Sciences, 3(2), 128-136. https://scholar.google.com/scholar?q=Ansoff+Matrix+&hl=en&as_sdt=0%2C47&as_ylo=2019&as_yhi=2024