Towards identifying the business value of big data in a digital business ecosystem: A case study from the financial services industry

Abstract

In today’s increasingly digital business ecosystem, big data offers numerous opportunities. Although research on big data receives a lot of attention, research on the business value of big data is scarce. The research project presented in this article aims at advancing the research in this area, focusing on the identification of opportunities towards determining the business value of big data. The goal of the research project pursued is to develop a framework that supports decision makers to identify opportunities for attaining business value form big data in the financial services industry. The proposed framework was constructed based on information collected by performing an in-depth literature review and interviews with experts in the area of big data and financial services industry, and it was empirically validated via a questionnaire sent to experts. A comparative analysis was also performed, emphasizing the strengths of the proposed framework over existing approaches.