How can organizations leverage big data to innovate their business models? A systematic literature review. (May 2023)

• Record Type: Journal Article
• Authors: Acciarini, Chiara; Cappa, Francesco; Boccardelli, Paolo; Oriani, Raffaele
• Is Part Of: Technovation. Volume 123(2023)
• Publication Date: 2023-05
• Subjects: Big data -- Value creation -- Value capture -- Value delivery -- Business model -- Business model innovation -- Systematic literature review; Technological innovations -- Periodicals; Industrial management -- Periodicals; Innovations -- Périodiques; Gestion d'entreprise -- Périodiques; Electronic journals; 658.57
• DOI: 10.1016/j.technovation.2023.102713
• Languages: English
• ISSNs: 0166-4972

Abstract

Abstract: The use of big data has garnered increasing importance in academic research and managerial practice thanks to the benefits it can produce in terms of innovation. However, big data also has drawbacks that have been overlooked so far. Therefore, to ensure the benefits outweigh the costs of big data, and to unlock the full potential of big data in terms of business model innovation, we argue that companies need to have a clear map of all its possible uses. With this aim in mind, we have summarized the current state of scholarship, outlined the uses of big data across different business areas in private and public organizations, and the types of methodologies adopted, and we have suggested future research avenues, building upon our systematic literature review of 311 articles indexed in the Scopus database. In this manner, we contribute to increasing our scientific understanding of the big data phenomenon, and we provide theoretical and practical advice on the possible uses of big data that may allow companies to innovate their business models. Graphical abstract: Image 1 Highlights: Big data may be extremely beneficial for companies, but the drawbacks are still overlooked. A systematic literature review of more than 311 articles offer a clear map of the uses of big data. The study classifies i) type of organizations adopting big data, ii) methodology used, and iii) business areas involved. The potential uses of big data that would allow companies to innovate their business models are drawn.