Big Data Analytics as a Game Changer for Business Model Innovation in Small and Medium-Sized Enterprises in South Africa

Abstract

Digital transformation has caused an abrupt change to business processes and practices whereby small and big businesses are developing business model innovation (BMI). Big data analytics is seen as one of the suitable technologies to offer business model innovation solutions and also as a strategy to improve business operations and performance in Small and Medium-sized Enterprises (SMEs). This study thus reviewed literature on the adoption of big data analytics, with a view to highlight how this technology can support the development of big data business model innovation applicable to SMEs. The study revealed that big data analytics has the potential to enhance SMEs' business processes, practices, performance, and to respond to their increasingly competitive environment. It is therefore recommended that SME owners and managers should adopt and implement technologies such as big data analytics to support business innovation processes as that could sustain organizational performance and improve their innovative and dynamic capabilities.