Demystifying the Big Data phenomena for strategic leadership.
The objective of this paper is to demystify the Big Data phenomena through the lens of data as a currency for monetization in creating new value. It presents a strategic leadership perspective for a digital mindset to advance management, inspire innovation, facilitate engagement, and influence positive impact for competitive advantage.
The important benefit of Big Data is seeing what could not be seen before; hidden ah-hah discoveries within very large data sets (structured and/or unstructured) to analyze and draw insight from what the data reveals. This divination-type ability is made possible through stacked technology platforms like Hadoop and through use of Machine Learning algorithms to boost competitive advantage for those organizations who understand its potential and power in applying IT capabilities. Big Data with Machine Learning practices is applicable to all organizations, industries, and sectors where extensive data is generated and can be analyzed for greater insights and improved decision making.
In this paper, the authors use research data from more than 100 C-level executives and anecdotal evidence to integrate company examples from the literature and empirically demonstrate the link between hardware and software technology purchases and the CEO’s leadership to improve performance and create new value for customers using Big Data with Machine Learning practices.
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