Analytics and innovation management: Does big data play any role?

Abstract

This particular analysis explores the connection between firms' application of data analytics (specifically it's attributes) together with the revolutionary functionality of company. The other goal is assessing whether big amount of information is always better to get business innovation. The study collected information via questionnaire survey from control staffs of 250 businesses in both developed and developing economies. Statistical tools like Multiple regression methods and t-test were used to analyse the information. The study found suggestive evidence demonstrating that data analytics is a relevant determinant of a firm getting innovator and bring innovative services and products on the industry. The study even discovered that big volume of information isn't always better info to drive innovation. The results imply that firms are required to use big data analytics to remain imaginative and also have a competitive advantage. Unlike previous studies which approached large details as whole, this particular study addresses different ingredients of big data like variety, velocity, volume, and the individual impacts of theirs on innovation of organizations across the evolved economies.

Keywords

• analytics
• dynamic capability
• firm performance