A multi-dimension framework for value creation through Big Data

Abstract

Big Data represents a promising area for value creation and frontier research. The potential to extract actionable insights from Big Data has gained increasing attention of both academics and practitioners operating in several industries. Marketing domain has become from the start a field for experiments with Big Data approaches, even if the adoption of Big Data solutions does not always generate effective value for the adopters. Therefore, the gap existing between the potential of value creation embedded in the Big Data paradigm and the current limited exploitation of this value represents an area of investigation that this paper aims to explore. In particular, by following a systematic literature review, this study aims at presenting a framework that outlines the multiple value directions that the Big Data paradigm can generate for the adopting organizations. Eleven distinct value directions have been identified and then grouped in five dimensions (Informational, Transactional, Transformational, Strategic, Infrastructural Value), which constitute the pillars of the proposed framework. Finally, the framework has been also preliminarily applied in three case studies conducted within three Italian based companies operating in different industries (e-commerce, fast-moving consumer goods, and banking) in the final aim to see its applicability in real business scenarios.