Propositions on big data business value

Abstract

This study synthesizes the earlier literature on big data and draws theoretical propositions on the value of big data in organizational decision-making. The authors explain how big data contributes to business decision-making and propose the steps of a process from collecting data to implementing decisions. They further suggest value gaps affecting the use of big data in different phases of the process. The authors conclude that big data can indeed be turned into data-driven knowledge and further utilized as a basis for improved decision-making. This would, however, require a more systematic approach to utilizing big data in order to leverage big data and turn it into real business value. The study helps organizations to further plan their big data projects and to evaluate how they should prepare for the possible challenges hindering the utilization of big data.