Big data dreams: A framework for corporate strategy |
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| Institution: | 1. Brock School of Business, Samford University, 800 Lakeshore Drive, Birmingham, AL 35229, U.S.A.;2. School of Business, University of Connecticut, Storrs, CT 06269, U.S.A.;1. Kelley School of Business, Indiana University, 1309 E. Tenth Street, Bloomington, IN 47405, U.S.A.;2. Bloch School of Management, University of Missouri—Kansas City, Kansas City, MO 64110, U.S.A.;3. College of Business Administration, Kansas State University, Manhattan, KS 66506, U.S.A.;1. Darden School of Business, University of Virginia, 100 Darden Boulevard, Charlottesville, VA 22903, U.S.A.;2. College of Business, James Madison University, Harrisonburg, VA 22807, U.S.A.;3. Kelley School of Business, Indiana University, Bloomington, IN 47405, U.S.A. |
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| Abstract: | The phenomenon of big data—large, diverse, complex, and/or longitudinal data sets—is having a stark influence on organizational strategy making. An increase in levels of data and technological capabilities is redefining innovation, competition, and productivity. This article contributes to both practical strategic application and academic research in the strategic management domain by presenting a framework that identifies how big data improves functional capabilities within organizations, shapes entirely new industries, and is a key component of innovative and disruptive strategies used by learning organizations to diversify and break down barriers of traditionally defined industries. This framework provides an appropriate basis for internal corporate strategy discussions that surround big data investments by explaining how firms create value through various approaches. In addition, we offer guidance for how firms might derive their own big data approach through the merits of aligning data strategy aspirations with data strategy authenticity. |
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| Keywords: | Big data Corporate innovation Big data strategy Data collection Business intelligence |
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