Big data for open innovation in SMEs and large corporations: Trends, opportunities, and challenges

Abstract

The notion of ‘Big Data’ has recently been attracting an increasing degree of attention from scholars and practitioners in an attempt to identify how it may be leveraged to create innovative solutions and business opportunities. Specifically, Big Data may come from a variety of sources, especially sources outside the usual boundaries of organizations, and it represents an interesting and emerging opportunity for sustaining and enhancing the effectiveness of the so‐called open innovation paradigm. However, to the best of our knowledge, no prior works have provided a broad overview of the use of Big Data for open innovation strategies. We aim to fill this gap. In particular, we have focused our investigation on two types of companies: small and medium‐sized enterprises (SMEs) and big corporations, reviewing the major academic works published so far and analysing the main industrial applications on this topic. As a result, we provide a relevant list of the main trends, opportunities, and challenges faced by SMEs and large corporations when dealing with Big Data for open innovation strategies.

Fostering digital platform innovation: From two to multi‐sided platforms

“…It builds on previous research and takes different perspectives in a comprehensive model in which transactional and non‐transactional perspectives are merged (Evans, ; Filistrucchi et al, ; Ihlström Eriksson et al, ; Täuscher & Laudien, ) and bring the client‐as‐a‐source perspective to a transactional structure (Trabucchi et al, ). Furthermore, this research enlarges into a discussion on the role that big data may have in innovation (e.g., Del Vecchio, Di Minin, Petruzzelli, Panniello, & Pirri, ; Ostrom, Parasuraman, Bowen, Patrício, & Voss, ; Trabucchi et al, ).…”

Paths Toward Radical Service Innovation in Manufacturing Companies—A Service‐Dominant Logic Perspective

“…Digitalization of assets and data exchange between industrial buyers and suppliers facilitate “smart” servitization (Kamp and Parry, ) and thereby also changes consumer preferences and consumption (Vendrell‐Herrero, Bustinza, Parry, and Georgantzis, ). Although SMEs face significant challenges in taking full advantage of digitalization opportunities (Del Vecchio et al, ), the use of big data and relevant information and communication tools is a proven relevant factor for SMEs’ ability to increase their innovation capabilities and innovation performance (Scuotto, Santoro, Bresciani, and Del Giudice, ). Res our ce density: An important aspect of SDL involves the ability of actors to mobilize sufficient resources to create value for others or for themselves. SDL stresses the distinction between operant resources that are factors, on which operation is to be performed, as opposed to operant resources, which are employed to produce an effect (Vargo and Lusch, ).…”

The Role of Entrepreneurial Leadership and Configuring Core Innovation Capabilities to Enhance Innovation Performance in a Disruptive Environment

“…Digital revolution, due to progress in digital technology such as cloud computing, big data and analytics, mobile broadband, artificial intelligent, and internet of things drives digital economy and Industry 4.0 revolution (Schwab, 2016;Geissbauer et al, 2016;Erboz, 2017;Arditto et al, 2018;Fortunato et al, 2017;Dell'Era et al, 2019;Ardito et al, 2019). By leveraging big data, those technologies have potentially disruptive effects on trade, services, production, and business models (Del Vecchio et al, 2018). Nowadays, these technologies progress have been enabling firms on (1) digitising and integration of vertical and horizontal value chains, (2) digitising of product and service offerings, and (3) digital business models and customer access (Geissbauer et al, 2016).…”