BIG DATA AND FIRMS’ FINANCIAL PERFORMANCE IN A DEVELOPING COUNTRY: A LITERATURE REVIEW APPROACH
Abstract
This review explored the relationship between big data adoption and firm performance in a developing country context. By examining various studies and reports, we highlight how firms in developing economies leverage big data to enhance business operations, decision-making processes, and competitive advantage. The review emphasizes the unique challenges faced by these firms, including limited infrastructure, a scarcity of skilled personnel, and nascent regulatory frameworks. Despite these challenges, the paper identified significant opportunities where big data has positively impacted firm performance, particularly in sectors like finance, retail, and telecommunications. The paper also discussed the role of governmental support and international collaboration in facilitating big data adoption in these settings. Conclusively, this review provided insights into how big data serves as a catalyst for business growth and efficiency in developing countries, offering a nuanced understanding of its benefits and limitations in these environments. This analysis is pivotal for policymakers, business leaders, and academics aiming to harness the potential of big data in emerging markets
Keywords
Full Text:
PDFReferences
African Development Bank Group. (2018). African Economic Outlook 2018.
Aker, J. C., & Mbiti, I. M. (2010). Mobile Phones and Economic Development in Africa. Journal of Economic Perspectives, 24(3), 207-232.
Akter, S., Wamba, S. F., Gunasekaran, A., Dubey, R., & Childe, S. J. (2016). How to improve firm performance using big data analytics capability and business strategy alignment? International Journal of Production Economics, 182, 113-131.
Almeida F. & Low-Choy S. Günther, W. A., Mehrizi, M. H., Huysman, M., & Feldberg, F. (2017). Debating big data: A literature review on realizing value from big data. The Journal of Strategic Information Systems, 26(3), 191-209.
Almeida, F. (2018). Big Data: Concept, Potentialities and Vulnerabilities. Emerging Science Journal, 2(1), 1-10.
Amazon Web Services (AWS). (2021). Cloud Infrastructure in Emerging Markets.
Asian Development Bank. (2019). Asian Development Outlook 2019: Strengthening Disaster Resilience.
Bahreini, A., Yazdani, S., & Liu, X. (2016). Big data privacy: Towards frameworks and solutions. IEEE Transactions on Services Computing, 9(1), 112-123.
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.
Berger, R. (2020). How the current crisis will change the culture of our work. Retrieved 12 January 2021, from https://www.rolandberger.com/en/Point-of-View/Digital-workplace-in-the-era-of-Covid-19.html
Berman, B. (2012). 3-D printing: The new industrial revolution. Business Horizons, 55(2), 155-162.
Bholat, D. (2015). Big data and central banks. Bank of England Quarterly Bulletin, 55(1), 86-93.
Brown, B., Chui, M., & Manyika, J. (2011). Are you ready for the era of ‘big data’? McKinsey Quarterly, 4, 24-35.
Brynjolfsson, E., & McAfee, A. (2012). Big Data: The Management Revolution. Harvard Business Review.
Bughin, J., Chui, M., & Manyika, J. (2010). Clouds, big data, and smart assets: Ten tech-enabled business trends to watch. McKinsey Quarterly.
Chari, R., DeMonaco, L. H., & Ramanathan, R. (2015). Big data, big analytics: A research agenda for information systems. MIS Quarterly, 39(4), 375-404.
Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business intelligence and analytics: From big data to big impact. MIS Quarterly, 36(4), 865-883.
Dai, H. N., Wang, H., Xu, G., Wan, J., & Imran, M. (2020). Big data analytics for manufacturing internet of things: opportunities, challenges and enabling technologies. Enterprise Information Systems, 14(9-10), 1279-1303.
Davenport, T. H. (2014). Big Data at Work: Dispelling the Myths, Uncovering the Opportunities. Harvard Business Review Press.
Davenport, T. H., & Harris, J. (2007). Competing on analytics: The new science of winning. Harvard Business Press.
Deloitte. (2018). The Analytics Advantage: We’re Just Getting Started.
Demirguc-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018). The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. World Bank.
Desjardins, J. (2019). How much data is generated each day?. World Economic Forum. Retrieved from https://www.weforum.org/agenda/2019/04/how-much-data-is-generated-eachday-cf4bddf29f/
European Commission. (2020). European Open Science Cloud.
European Parliament. (2016). General Data Protection Regulation.
Food and Agriculture Organization of the United Nations (FAO). (2019). The State of Food and Agriculture 2019.
G20 Digital Economy Task Force. (2019). G20 Digital Economy Ministerial Declaration.
Galbraith, J. R. (1973). Designing Complex Organizations. Addison-Wesley Longman Publishing Co., Inc.
Gandomi, A., & Haider, M. (2015). Beyond the hype: Big data concepts, methods, and analytics. International Journal of Information Management, 35(2), 137-144.
George, G., Haas, M. R., & Pentland, A. (2014). Big data and management. Academy of Management Journal, 57(2), 321-326.
GovLab. (2021). About GovLab.
Grant, R. M. (1996). Toward a Knowledge-Based Theory of the Firm. Strategic Management Journal, 17(S2), 109-122.
GSMA. (2020). The Mobile Economy Sub-Saharan Africa 2020.
Gupta, M., & George, J. F. (2016). Toward the development of a big data analytics capability. Information & Management, 53(8), 1049-1064.
Gupta, S., Qian, X., Bhushan, B., & Luo, Z. (2019). Role of cloud ERP and big data on firm performance: a dynamic capability view theory perspective. Management Decision, 57(8), 1857-1882.
Hajli, N., Tajvidi, M., Gbadamosi, A., & Nadeem, W. (2020). Understanding market agility for new product success with big data analytics. Industrial Marketing Management, 86. 135-143.
Holmlund, M., Vaerenbergh, Y. V., Ciuchita, R., Ravald, A., Sarantopoulos, P., Ordenes, F. V., & Zaki, M. (2020). Customer experience management in the age of big data analytics: A strategic framework. Journal of Business Research, 116, 356-365.
IBM. (2012). The Big Data Opportunity in Our Complex World.
International Monetary Fund (IMF). (2020). Fintech in Developing Countries.
International Telecommunication Union (ITU). (2019). Measuring digital development: Facts and figures 2019.
International Telecommunication Union (ITU). (2020). Measuring Digital Development.
Islam, M., & Reza, S. (2019). The Rise of Big Data and Cloud Computing. Internet of Things and Cloud Computing, 7(2), 45-53.
Khan, N., Alsaqer, M., Shah, H., Badsha, G., Abbasi, A., & Salehian, S. (2018). The 10 Vs, Issues and Challenges of Big Data. Proceedings of the 2018 International Conference on Big Data and Education -ICBDE '18, Honolulu, USA, 52-56.
Kshetri, N. (2014). Big data’s impact on privacy, security and consumer welfare. Telecommunications Policy, 38(11), 1134-1145.
Laney, D. (2001). 3D data management: Controlling data volume, velocity, and variety. META Group Research.
Lee, I. (2017). Big data: Dimensions, evolution, impacts, and challenges. Business Horizons, 60(3), 293-303.
Liakos, K. G., Busato, P., Moshou, D., Pearson, S., & Bochtis, D. (2018). Machine learning in agriculture: A review. Sensors, 18(8), 2674.
Maheshwari, S., Gautam, P., & Jaggi., C. K. (2021). Role of Big Data Analytics in supply chain management: current trends and future perspectives. International Journal of Production Research, 59(6), 1875-1900.
Manyika, J., Chui, M., Brown, B., Bughin, J., Dobbs, R., Roxburgh, C., & Byers, A. (2011). Big data: The next frontier for innovation, competition, and productivity. New York: McKinsey Global Institute
Mayer-Schönberger, V., & Cukier, K. (2013). Big data: A revolution that will transform how we live, work, and think. Houghton Mifflin Harcourt.
McAfee, A., & Brynjolfsson, E. (2012). Big data: The management revolution. Harvard Business Review, 90(10), 60-68.
McKinsey & Company. (2016). How Big Data Can Improve Retailing.
Murray, C. J., Ikuta, K. S., Sharara, F., Swetschinski, L., Robles Aguilar, G., Gray, A., ... & Wool, E. E. (2020). Global burden of bacterial antimicrobial resistance in 2019: a systematic analysis. The Lancet, 397(10273), 629-655.
OECD. (2015). Data-Driven Innovation: Big Data for Growth and Well-Being.
Porter, M. E. (1985). Competitive Advantage. Free Press.
PwC. (2019). Big Data: The Next Frontier for Innovation in Emerging Markets.
Raghupathi, W., & Raghupathi, V. (2014). Big data analytics in healthcare: promise and potential. Health Information Science and Systems, 2(1), 3.
Sonka, S. (2014). Big data and the ag sector: More than lots of numbers. International Food and Agribusiness Management Review, 17(A), 1-20.
Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18(7), 509-533.
U.S. Department of Commerce. (2016). Fostering innovation and competitiveness: The role of big data.
UN Global Pulse. (2012). Big Data for Development: Challenges and Opportunities.
UN Global Pulse. (2021). About UN Global Pulse.
UNESCO. (2019). Steering AI and Advanced ICTs for Knowledge Societies.
United Nations. (2021). World Economic and Social Survey 2021: Data for Sustainable Development.
WHO. (2021). Big data and public health.
World Bank. (2016). Digital Dividends: World Development Report 2016.
World Bank. (2017). Enabling the Business of Agriculture 2017.
World Bank. (2020). World Development Report 2020: Trading for Development in the Age of Global Value Chains. International Monetary Fund (IMF). (2019). World Economic Outlook: Challenges to Steady Growth.
World Economic Forum (WEF). (2013). The Global Information Technology Report 2013.
World Health Organization (WHO). (2018). Big Data and Public Health.
Refbacks
- There are currently no refbacks.
Copyright (c) 2024 Sunday Oseiweh Ogbeide, PhD, Rachael Osasere Ogbeifun, PhD
ISSN (PRINT): 2734 - 2522
ISSN (ONLINE): 2734 - 2514
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.