Big data and business analytics ecosystems: paving the way towards digital transformation and sustainable societies

Abstract

The digitalization process and its outcomes in the 21st century accelerate transformation and the creation of sustainable societies. Our decisions, actions and even existence in the digital world generate data, which offer tremendous opportunities for revising current business methods and practices, thus there is a critical need for novel theories embracing big data analytics ecosystems. Building upon the rapidly developing research on digital technologies and the strengths that information systems discipline brings in the area, we conceptualize big data and business analytics ecosystems and propose a model that portraits how big data and business analytics ecosystems can pave the way towards digital transformation and sustainable societies, that is the Digital Transformation and Sustainability (DTS) model. This editorial discusses that in order to reach digital transformation and the creation of sustainable societies, first, none of the actors in the society can be seen in isolation, instead we need to improve our understanding of their interactions and interrelations that lead to knowledge, innovation, and value creation. Second, we gain deeper insight on which capabilities need to be developed to harness the potential of big data analytics. Our suggestions in this paper, coupled with the five research contributions included in the special issue, seek to offer a broader foundation for paving the way towards digital transformation and sustainable societies

Current landscape and influence of big data on finance

“…At present, most of the areas of business are linked to big data. It has significant influence on various perspectives of business such as business process management, human resources management, R&D management [8,63], business analytics [19,26,42,59,63], B2B business process, marketing, and sales [30,39,53,58], industrial manufacturing process [7,15,40], enterprise's operational performance measurement [20,69,81], policy making [2], supply chain management, decision, and performance [4,38,64], and so other business arenas.…”

“…This study also talked about three sophisticated types of analytics techniques such as descriptive analytics, predictive analytics, and prescriptive analytics in order to improve the traditional data analytics process. Duan and Xiong [19], Grover and Kar [26], Ji et al [42], and Pappas et al [59] also explored the significance of big data in business analytics. Big data helps to solve business problems and data management through system infrastructure, which includes any technique to capture, store, transfer, and process data.…”

The Role of Knowledge Management Capability and Digital Ecosystem to Enhance Digital Transformation for SMEs

“…Digital evolution by changing stakeholders in the ecosystem, in terms of interacting, working together, and collaborating, could achieve digital transformation. Proactive stakeholders increase the company's excellence compared to other competitors and create a long-term relationship (García-sánchez & García-morales, 2018;Pappas et al, 2018).…”

Assessing the Gap between Technology and the Environmental Sustainability of European Cities

“…These products and services range from the new wave of computing such as big data analytics, Internet of Things (IoT) and Artificial Intelligence (AI) to ICT-enabled applications such as eCommerce, eBanking, eHealth, eLearning, and e-mail (Bibri and Krogstie 2017a;Cruz-Jesus et al 2017;Pappas et al 2018). They enable new sustainable ways of doing business and providing services in what is known as BDigital Transformation^ (Pappas et al 2018;Venkatesh 2008). Furthermore, when combined with e-government, these eservices can facilitate the transition of society into Bdigital nations^ ).…”