From 'Big Data' to 'Smart Data': Algorithm for Cross-Evaluation (ACE) As a Novel Method for Large-Scale Survey Analysis

International Journal of Transitions and Innovation Systems, Forthcoming

37 Pages Posted: 26 Oct 2017

See all articles by Darko Kantoci

Darko Kantoci

KanDar Enterprises Inc.

Emir Dzanic

IEDC - Bled School of Management

Marcel Bogers

University of Copenhagen - Department of Food and Resource Economics (IFRO); University of California, Berkeley

Date Written: October 21, 2017

Abstract

Current research is increasingly relying on large data analysis to provide insights into trends and patterns across a variety of organizational and business contexts. Existing methods for large-scale data analysis do not fully capture some of the key challenges with data in large data sets, such as non-response rates or missing data. One method that does address these challenges is the SunCore Algorithm for Cross-Evaluation (ACE). ACE provides a view of the whole data set in a multidimensional mathematical space by performing consistency and cluster analysis to fill in the gaps, thereby illumining trends and patterns previously invisible within such data sets. This approach to data analysis meaningfully complements classical statistical approaches. We argue that the value of the ACE algorithm lies in turning “big data” into “smart data” by predicting gaps in large data sets. We illustrate the use of ACE in connection to a survey on employees’ perception of the innovative ability within their company by looking at consistency and cluster analysis.

Keywords: statistical modelling; statistical algorithm; survey analysis; consistency analysis; cluster analysis; data trends; data patterns; data correlation; non-ignorable missing data; non-response missing data; cross evaluation; big data; smart data; innovation survey; food processing company

Suggested Citation

Kantoci, Darko and Dzanic, Emir and Bogers, Marcel, From 'Big Data' to 'Smart Data': Algorithm for Cross-Evaluation (ACE) As a Novel Method for Large-Scale Survey Analysis (October 21, 2017). International Journal of Transitions and Innovation Systems, Forthcoming. Available at SSRN: https://ssrn.com/abstract=3058881

Darko Kantoci

KanDar Enterprises Inc. ( email )

Manchester
United States

Emir Dzanic

IEDC - Bled School of Management ( email )

Presernova cesta 33
4260 Bled
Slovenia

Marcel Bogers (Contact Author)

University of Copenhagen - Department of Food and Resource Economics (IFRO) ( email )

Unit for Innovation, Entrepreneurship & Management
Rolighedsvej 25
Copenhagen, 1958
Denmark

University of California, Berkeley

Garwood Center for Corporate Innovation
F402 Hass School of Business, #1930
Berkeley, CA 94720
United States

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