Big Data: Extending the Business Strategy Toolbox

3 Pages Posted: 9 Apr 2015

See all articles by Stephanie Woerner

Stephanie Woerner

Massachusetts Institute of Technology (MIT) - Center for Information Systems Research (CISR)

Barbara Wixom

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Date Written: March 2015

Abstract

The business world is rapidly digitizing as companies embrace sensors, mobile devices, radio frequency identi- fication, audio and video streams, software logs, and the Internet to predict needs, avert fraud and waste, understand relationships, and connect with stakeholders both internal and external to the firm. Digitization creates challenges because for most companies it is unevenly distributed throughout the organization: in a 2013 survey, only 39% of company-wide investment in digitization was identified as being in the IT budget (Weill and Woerner, 2013a). This uneven, discon-necked investment makes it difficult to consolidate and simplify the increasing amount of data that is one of the outcomes of digitization. This in turn makes it more difficult to derive insight – and then proceed based on that insight. Early big data research identified over a dozen characteristics of data (e.g., location, network associations, latency, structure, softness) that challenge extant data management practices (Santos and Singer, 2012).

Suggested Citation

Woerner, Stephanie and Wixom, Barbara, Big Data: Extending the Business Strategy Toolbox (March 2015). Journal of Information Technology, Vol. 30, Issue 1, pp. 60-62, 2015, Available at SSRN: https://ssrn.com/abstract=2592435 or http://dx.doi.org/10.1057/jit.2014.31

Stephanie Woerner (Contact Author)

Massachusetts Institute of Technology (MIT) - Center for Information Systems Research (CISR) ( email )

Sloan School of Management
5 Cambridge Center, NE25-770
Cambridge, MA 02142
United States
617-452-3222 (Phone)
617-253-4424 (Fax)

Barbara Wixom

Massachusetts Institute of Technology (MIT) - Sloan School of Management

100 Main Street
E62-416
Cambridge, MA 02142
United States

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