BIG data – BIG gains? Understanding the link between big data analytics and innovation

This paper analyzes the relationship between firms' use of big data analytics and their innovative performance in terms of product innovations. Since big data technologies provide new data information practices, they create novel decision-making possibilities, which are widely believed to suppo...

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Bibliographic Details
Published inEconomics of innovation and new technology Vol. 28; no. 3; pp. 1 - 21
Main Authors Niebel, Thomas, Rasel, Fabienne, Viete, Steffen
Format Journal Article
LanguageEnglish
Published London Taylor & Francis 03.04.2019
Routledge
Taylor & Francis Ltd
Subjects
Analytics
Big Data
Companies
Customer information files
Data analysis
Data management
data-driven
data-driven decision-making
Decision making
firm-level data
Innovations
Knowledge management
Mathematical analysis
Product development
product innovation
Service industries
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Summary:This paper analyzes the relationship between firms' use of big data analytics and their innovative performance in terms of product innovations. Since big data technologies provide new data information practices, they create novel decision-making possibilities, which are widely believed to support firms' innovation process. Applying German firm-level data within a knowledge production function framework we find suggestive evidence that big data analytics is a relevant determinant for the likelihood of a firm becoming a product innovator as well as for the market success of product innovations. These results hold for the manufacturing as well as for the service sector but are contingent on firms' investment in IT-specific skills. Overall, the results support the view that big data analytics have the potential to enable innovation.
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ISSN:1043-8599
1476-8364
DOI:10.1080/10438599.2018.1493075