The Role of Big Data in Influencing Strategic Decision-Making for Organizations: A Review

Mamdooh Alharthi

Abstract


 In an issue of Financial Executive, authors in [1] argued that “tomorrow’s competitive advantage will be driven by the ability to consume, produce and govern complex information inside and outside the company walls” .  Johnson’s statement reflects the belief shared by a growing number of business analysts that Big Data offers many opportunities for companies to make better decisions and to increase the value of their products and services [2,3,4,5]. Big Data, which is one of the hottest topics in the business press and scholarly business literature, can be generally defined as high-volume, extremely large scale data gathering and data analytics[4] . This paper provides a focused review of literature on the increasingly important role of Big Data in strategic management, with special attention to the role of Big Data in strategic decision-making.  The major questions investigated through this review of literature were: What kind of decisions is being supported by Big Data in organizations today?  Does Big Data help organizations make better decisions?  How can organizations best make use of Big Data to support strategic decision-making?


Keywords


Big data; Strategic Decisions; Organizations.

Full Text:

PDF

References


Johnson, J.E., (2012). Big data + big analytics = big opportunity. Financial Executive, 28 (6), 50-53.

McAfee, A. & Brynjolfsson, E., 2012. Big data: the management revolution. Harvard Business Review, 90 (10), 59-68.

Parise, S.; Iyer, B. & Vesset, D., (2012). Four strategies to capture and create value from big data. Ivey Business Journal, 76(4), 1-5.

Bughin, J., Livingston, J. & Marwaha, S., (2011). Seizing the potential of ‘big data’. McKinsey Quarterly, Issue 4, pp. 103-109.

Chen, H., Chaing, R.H.L., & Storey, V.C., (2012). Business intelligence and analytics: from big data to big impact. MIS Quarterly, 36 (4), 1165-1188.

Bartram, P., 2013. The value of data. Financial Management, March 2013, 26-31.

Waller, M.A. & Fawcett, S.E., (2013). Data science, predictive analytics, and big data: a revolution that will transform supply chain design and management. Journal of Business Logistics, 34 (2), 77-84.

Nunan, D. & Di Domenico, M., (2013). Market research and the ethics of big data. International Journal of Market Research, 55 (4), 2-13.

Waller, M.A. & Fawcett, S.E., (2013). Data science, predictive analytics, and big data: a revolution that will transform supply chain design and management. Journal of Business Logistics, 34 (2), 77-84.

Davenport, T.H. & Patil, D.J., (2012). Data scientist: the sexiest job of the 21st century. Harvard Business Review, 90 (10), 70-76.

Biesdorf, S., Court, D., & Willmott, P., (2013). Big data: what’s your plan? McKinsey Quarterly, Issue 2 (2013), 40-51.

Barton, D. & Court, D., 2012. Making advanced analytics work for you. Harvard Business Review, 90 (10), 79-83.

Davenport, T.H., (2013). Keep up with your quants: an innumerate’s guide to navigating big data. Harvard Business Review, 91 (7), 120-123.


Refbacks

  • There are currently no refbacks.


 

 
  
 

 

  


About IJSBAR | Privacy PolicyTerms & Conditions | Contact Us | DisclaimerFAQs 

IJSBAR is published by (GSSRR).