The Relationship between Big Data and Decision Making. A Systematic Literature Review

Abstract

The increasing use of big data within the economics field has led academics and professionals to broaden the investigation of its consequences in corporate decision-making processes. Until now, scholars and managers have been focused only on the technical aspects of big data, without emphasizing the influence they exert on the effectiveness of decision-making systems. Firstly, this paper aims to review the literature which concerns the study of the relationship between the use of big data and its effectiveness in corporate decision-making system. Secondly, it provides relevant evidence to analyze whether big data acts as a facilitator for the implementation of advanced decision-making models and eventually how. In this aspect, our work identifies the key factors that support the corporate decision-making process by proposing a possible corporate governance model. The theoretical framework that we have adopted relies on big data management studies, with a specific focus on the implications which show that the use of big data can generate the decision-making dynamics of companies and organizations. The current paper provides both theoretical and managerial contributions to the literature on big data and decision making, defining future perspectives to advance knowledge in this research area.