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Towards Identifying the Business Value of Big Data in a Digital Business Ecosystem: A Case Study from the Financial Services Industry

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Business Information Systems (BIS 2016)

Part of the book series: Lecture Notes in Business Information Processing ((LNBIP,volume 255))

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Abstract

In today’s increasingly digital business ecosystem, big data offers numerous opportunities. Although research on big data receives a lot of attention, research on the business value of big data is scarce. The research project presented in this article aims at advancing the research in this area, focusing on the identification of opportunities towards determining the business value of big data. The goal of the research project pursued is to develop a framework that supports decision makers to identify opportunities for attaining business value form big data in the financial services industry. The proposed framework was constructed based on information collected by performing an in-depth literature review and interviews with experts in the area of big data and financial services industry, and it was empirically validated via a questionnaire sent to experts. A comparative analysis was also performed, emphasizing the strengths of the proposed framework over existing approaches.

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Notes

  1. 1.

    Within the scope of this research project, the term business value refers to the financial gains (e.g., expressed in monetary units, such as increased profit), and non-financial gains (e.g., competitive advantage, productivity enhancement) of an organization.

  2. 2.

    In total eight semi-structured interviews with experts in the field of financial services and big data were conducted. Semi-structured interviews were used because they give the companies’ perspective on this topic and could confirm insights that come from the document study. The purpose of the interviews was to acquire information about their vision on big data, possible approaches to assess the business value of big data and the potential benefits an organization would gain by investing in big data.

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Author information

Authors and Affiliations

  1. DAF, Information Technology Division, Eindhoven, The Netherlands

    Anke de Vries

  2. Eindhoven University of Technology, Eindhoven, The Netherlands

    Claudia-Melania Chituc

  3. Capgemini, I&D Risk, Regulations & Compliance, Utrecht, The Netherlands

    Fons Pommeé

Authors
  1. Anke de Vries
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  2. Claudia-Melania Chituc
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  3. Fons Pommeé
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Corresponding author

Correspondence to Anke de Vries .

Editor information

Editors and Affiliations

  1. Department of Information Systems, Poznan Univ of Economics and Business, Poznan, Poland

    Witold Abramowicz

  2. Institut für Wirtschaftsinformatik, Universität Leipzig, Leipzig, Sachsen, Germany

    Rainer Alt

  3. Information System Institute, University of Leipzig, Leipzig, Germany

    Bogdan Franczyk

Appendix: Excerpt of Interview Questions

Appendix: Excerpt of Interview Questions

General

  • For how long do you work at the current organization?

Business Intelligence

  • What is your definition of business intelligence?

  • What are the core elements of business intelligence?

Big Data

  • What is your definition of big data?

  • What are the core elements of big data?

  • To what extent is it possible that big data provides new insights in information needs compared to business intelligence?

Value of Business Intelligence and Big Data

  • Which measuring methods do you think are appropriate to measure the business value of big data?

  • In which parts of the financial services industry does big data provide business value?

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de Vries, A., Chituc, CM., Pommeé, F. (2016). Towards Identifying the Business Value of Big Data in a Digital Business Ecosystem: A Case Study from the Financial Services Industry. In: Abramowicz, W., Alt, R., Franczyk, B. (eds) Business Information Systems. BIS 2016. Lecture Notes in Business Information Processing, vol 255. Springer, Cham. https://doi.org/10.1007/978-3-319-39426-8_3

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