Research on big data in business model innovation based on GA-BP model

Jiang, Wenbo; Chai, Huaqi

doi:10.1109/soli.2016.7551682

Cited by 8 publications

(7 citation statements)

References 8 publications

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“…The success of businesses is no longer just dependent on the latest technologies but on identifying a new way of doing business based on the data insights. Constantly learning and applying radical customizations, experimentation, and changing business models are the name of the game (Jiang & Chai, 2016).…”

Section: Business Models Transformationsmentioning

confidence: 99%

Impact of Big Data on Innovation, Competitive Advantage, Productivity, and Decision Making: Literature Review

Shahid¹,

Sheikh²

2021

OJBM

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Advances in the field of technology enabled individuals and businesses to collect large amounts of data (structured and unstructured) from various sources like never before. Data from social media, user-generated, internet, health care, manufacturing, supply chain, financial institution, and sensors have grown exponentially. This paper's objective is to review how big data drive and impact innovation, competitive advantage, productivity, and decision support. Methodology: A comprehensive literature review on big data and identifying the impact of big data analytics on innovation, competitive advantage, productivity, and decision support are studied. The reviewed literature created the foundation for studying, a model that was developed based on an extensive review of literature as well as case studies and future forecast by market leaders. Big data is the latest buzzword among businesses. A new model is suggested identifying big data and the correlation between innovation, competitive advantage, productivity, and decision support. Findings: A review of scholarly literature and existing case studies finds that there is a gap between existing frameworks and the integration of big data into various business and management functions and objectives. The findings are interesting that literature is rich with concepts and frameworks for achieving the end goal for business or management function along with framework but very little is available in the literature on the question of how to integrate big data analytics into those frameworks. This paper finds that a key question is missing i.e., what are the essential steps that businesses should perform to implement and integrate big data analytics into existing frameworks to fully exploit the big data potential. Research Limitations/Implications: The research was limited to a review of selective literature focused on in-depth understanding of big data. Additionally, it focuses on how big data leads to innovation, competitive advantage, productivity, and decision support. Although there are many other related fields of studies where big data impact How to cite this paper:

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Section: Business Models Transformationsmentioning

confidence: 99%

Impact of Big Data on Innovation, Competitive Advantage, Productivity, and Decision Making: Literature Review

Shahid¹,

Sheikh²

2021

OJBM

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“…Predictably, modern-day business enterprises are taking keener interests in BDA because data is becoming the basis for competition (Chartered Global Management Accountants, CGMA, 2013). Big data refers to high-volume, high-velocity and high-variety data, which requires advanced and innovative processing techniques for enhanced insight and decision-making (Chen et al, 2012;Warren et al, 2015;Jiang and Chai, 2016). Peterson (2016, p. 1) simplifies the concept of big data by referring to it as " the collection of large amounts of data from places like web-browsing data trails, social network communications, sensor and surveillance data that is stored in computer clouds then searched for patterns, new revelations and insights."…”

Section: Diffusion Of Big Data Analyticsmentioning

confidence: 99%

“…Big data refers to high-volume, high-velocity and high-variety data, which requires advanced and innovative processing techniques for enhanced insight and decision-making (Chen et al , 2012; Warren et al , 2015; Jiang and Chai, 2016). Peterson (2016, p. 1) simplifies the concept of big data by referring to it as “ the collection of large amounts of data from places like web-browsing data trails, social network communications, sensor and surveillance data that is stored in computer clouds then searched for patterns, new revelations and insights.” Big data has six main characteristics of: volume (amount of records and information); variety (the different forms of data ranging from structured to unstructured data); velocity (the speed at which data is created and processed); veracity (the reliability of data); value; and complexity (Mohammadpoor and Torabi, 2019).…”

Section: Introductionmentioning

confidence: 99%

Characteristics of consulting firms associated with the diffusion of big data analytics

Oyewo

Ajibola²,

Ajape

2020

JABES

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PurposeThis study investigates the characteristics of business and management consulting firms (firm size, international affiliation and scope of operation) affecting the adoption rate (i.e. recency of adopting big data analytics (BDA) as a new idea) and usage level of BDA. Ten critical areas of BDA application to business and management consulting were investigated, (1) Human Resource Management; (2) Risk Management; (3) Financial Advisory Services; (4) Innovation and Strategy; (5) Brand Building and Product Positioning; (6) Market Research/Diagnostic Studies; (7) Scenario-Based Planning/Business Simulation; (8) Information Technology; (9) Internal Control/Internal Audit; and (10) Taxation and Tax Management.Design/methodology/approachSurvey data was obtained through a structured questionnaire from one hundred and eighteen (118) consultants in Nigeria from diverse consulting firm settings in terms of size, international affiliation and scope of operation (Big 4/non-Big 4 firms). Data was analyzed using descriptive statistics, cluster analysis, multivariate analysis of variance (MANOVA), multivariate discriminant analysis and multivariable logistic regression.FindingsWhereas organizational characteristics such as firm size, international affiliation and scope of operation significantly determine the adoption rate of BDA, two attributes (international affiliation and scope of operation) significantly explain BDA usage level. Internationally affiliated consulting firms are more likely to record higher usage level of BDA than local firms. Also, the usage level of BDA by the Big 4 accounting/consulting firms is expected to be higher in comparison to non-Big 4 firms.Practical implicationsContrary to common knowledge that firm size is positively associated with the adoption of an innovation, the study found no evidence to support this claim in respect of the diffusion of BDA. Overall, it appears that the scope of operation is the strongest organizational factor affecting the diffusion of BDA among consulting firms.Originality/valueThe study contributes to knowledge by exposing the factors promoting the uptake of BDA in a developing country. The originality of the current study stems from the consideration that it is the first, to the researchers' knowledge, to investigate the application of BDA by consulting firms in the Nigerian context. The study adds to literature on management accounting in the digital economy.

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“…Domestic scholar Li Changyun put forward that the new generation of information technology such as big data will promote the business model transformation and upgrade by influencing the product and service innovation, alliance network innovation, and customer value mining [11]. Jiang Wei combined the genetic algorithm with the error back propagation algorithm and brought forward the enterprise business model based on the big data mining algorithm with a focus on optimizing key decision making processes such as market entry [12].…”

Section: Review Of Big Data-based Business Model Studiesmentioning

confidence: 99%

An Empirical Study on the Design of Digital Content Products from a Big Data Perspective

et al. 2018

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The competition within the digital content market has become extremely fierce recently in China. With increasingly diversified product choices offered to customers, the focus on customer experience has been elevated to the highest level ever. It has become key to winning customers from within the intense competition and for companies to obtain differentiation advantages to create optimized customer experience from the customers’ viewpoint. The article analyzes the relationship between customer experience and the business model of digital content companies. Later, it comes up with an innovated business model based on the big data of customer experience to restructure the business process of digital content companies and to illustrate the designing process of new models in the product application design and customer care stages based on the model proposed, which can be used as references for the transformation and innovation of digital content companies.

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Research on big data in business model innovation based on GA-BP model

Cited by 8 publications

References 8 publications

Impact of Big Data on Innovation, Competitive Advantage, Productivity, and Decision Making: Literature Review

Impact of Big Data on Innovation, Competitive Advantage, Productivity, and Decision Making: Literature Review

Characteristics of consulting firms associated with the diffusion of big data analytics

An Empirical Study on the Design of Digital Content Products from a Big Data Perspective

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