Abstract
This paper investigates the organizational challenges raised by Big Data and its impact on the business environment with a focus on performance management. We investigate managers’ perceptions, understanding, and attitudes relating to Big Data and its analytics, in terms of opportunities, extent, limitations, challenges, and implications, with specific reference to performance management. The research methodology we adopt is grounded theory: we develop a reflection guide based on research questions covering the impact and challenges of a data-driven culture on business, and the impact on performance management and the decision-making process. The results obtained from senior executives from 21 Romanian companies leads to a conceptual model that distils the major areas arising from the responses and the interrelationships between them. These reveal several key areas of managerial relevance and suggest fruitful action. In particular, we find that the most critical areas requiring intervention lie in the area of awareness and understanding, goal setting, assessing benefits and limitations, learning to trust data, and commitment to an embedded data-driven culture. In addition to changes within organizations themselves, there are also implications for other stakeholders, such as education providers.
Highlights
Big data and its big analytics (BD&big analytics” (BA)) are the new basis on which organizations must build their business strategies in order to survive in an increasingly quantified world
Such studies are conducted with a view to understanding the way in which participants perceive situations and events, and where the meanings they attach to relevant phenomena are of critical importance [30]. This fully aligns with our research questions, which focus on perceptions of and reflections on Big data and its big analytics (BD&BA) and performance management (PM) in respondents’ organizations
In line with our grounded theory (GT) research methodology, our results focus on the synthesis of a conceptual model based on the raw data obtained from the survey
Summary
Big data and its big analytics (BD&BA) are the new basis on which organizations must build their business strategies in order to survive in an increasingly quantified world. This increasing rise in the importance and challenges of Big Data (BD) is considered to be “one of the most important features of the contemporary economy and society” [1]. The BD revolution is challenging and will continue to challenge the business landscape. Businesses using BD will see US$430 billion in productivity benefits over their competition (not using such data) by 2020, according to the International Institute for Analytics [4]
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