Author(s): Adebayo A. Oletubo, Chukwuemeka O. Iroham, Mayowa O. Ajibola, Hilary I. Okagbue
Strategic management is needed to ensure long term viability and sustainability of firms and can be applied using strategic management tools and techniques (SMTTs). The application of SMTTs by estate surveying and valuation firms (ESVFs) is rarely discussed despite the importance of strategic management. This paper found no relationship between the number of training (NOT) and SMTTs' usage. Questionnaire was used as an object of data collection, and purposive sampling was used while the respondents were 189 Estate Surveyors and Valuers (ESVs) in ESVFs in Lagos, Nigeria. Furthermore, SMTTs and NOT are not normally distributed. NOT was used to predict SMTTs using eight data mining models. Random forest performed best while neural network was the least using mean square error (MSE), root mean square error (RMSE), mean absolute error (MAE), and coefficient of determination (R2) as model evaluation metrics. Awareness of the importance of SMTTs is urgently needed and strategic management should be incorporated into the various training modules undertaken by ESVs.