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Article: How Organisations Leverage Big Data: A Maturity Model

18/08/16

Title: How Organisations Leverage Big Data: A Maturity Model

Publication: Industrial Management & Data Systems

Issue: Volume 116, Issue 8

Big Data is a relatively new term coined to label the exponential growth and availability of data, both structured and unstructured. Data can be captured anywhere and at any time and are considered big when they cannot be processed using currently widespread technology, such as relational databases or spreadsheet applications. Besides the advancement and dramatic cost reduction of technology for data acquisition, storage and processing, the exponential growth of the amount of data in digital form to support business operations and decisions is driven by two main factors.

On the one hand, social software and platforms and their availability on multiple, portable devices have made the stakeholders in product and service lifecycles, e.g., customers, suppliers, and partners, increasingly connected and interacting at an unprecedented frequency through different channels. On the other hand, products and services can be directly instrumented to generate data while they are being produced and delivered, e.g., through sensor networks. The availability of massive amounts of data provides unprecedented opportunities for organisations.


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