The role of big data in improving the balanced scorecard in Jordanian commercial banks: A field study

Abstract

The study aimed to explore The Role of Big Data in Improving the Balanced Scorecard in Jordanian Commercial Banks. The descriptive approach was employed, and the quantitative method was adopted to achieve the study’s objectives and test its hypotheses. A questionnaire tool was developed, consisting of four sections for big data and four sections for the balanced scorecard, comprising a total of 48 items. The validity and reliability of the tool were verified. The questionnaire was allocated to a sample of 400 employees of the study community which is the Jordanian commercial banks. The study's findings revealed that big data has a statistically significant impact on enhancing the balanced scorecard in Jordanian commercial banks. Dimensions of big data, such as "variety" and "veracity," had a positive and direct effect on improving all aspects of the balanced scorecard, including financial performance, customer service, learning, and growth. On the other hand, the impact of "volume" and "velocity" was limited or statistically insignificant in some aspects. According to multiple regression analyses, big data contributes to explaining 82% of the improvements observed in the balanced scorecard, highlighting the importance of investing in big data to enhance operational and financial performance.