A Cross- Sector Comparative Analysis of a Multidimensional Framework of Value Creation through Big Data
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Tarih
2023
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Peter Lang Publishing Group
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Currently, there are several definitions of the concept “big data.” However, most scholars and practitioners as well use a descriptive model known as the 5V’s to define big data. The term “V” stands, respectively, for “Volume,” “Velocity,” “Variety,” “Veracity” and “Value.” The last of all these Vs, “Value,” focuses on the magnitude by which big data generates useful insights, perspectives, and benefits, thus leading companies to make better decisions and achieve competitive advantages. Despite the rapid spread of big data in recent years and the increasing interest that companies have in the big data paradigm and value creation through the development and adoption of big data solutions, the element “Value” has not yet been sufficiently investigated and represents an open issue for both researchers and business professionals. This study focuses on the element “Value” and presents a cross- sector comparative analysis by using a multidimensional framework for value creation through big data to evaluate how big data can generate new value for companies in the financial services and automotive sectors. The implication of this study can be twofold. From a research perspective, the proposed framework can be seen as a systematic approach to illustrate how companies can create value and improve their decision- making by adopting the big data paradigm. From a practitioner`s point of view, the cross- sector comparative analysis may support managers and business executives in better understanding and defining the strategic perspective of innovative projects based on big data technologies. © Peter Lang GmbH Internationaler Verlag der Wissenschaften Berlin 2023. All rights reserved.
Açıklama
Anahtar Kelimeler
Big data, case study research, cross- sector comparative analysis, data- driven decisions, multidimensional framework, value creation
Kaynak
Data driven decisions in enterprises-implications for business education and cases
