Role of Big Data in Achieving Competitive Advantage

Abstract

The scope and area of Big Data have gained significant momentum from the tandem of academics and business parlance over the last couple of decades. It assists organizations in gaining business insights, fostering a competitive edge, and transforming whole business processes (Dahiya et al., 2021; Shah, 2022; Talwar et al., 2021; Wamba & Mishra, 2017). According to McKinsey (2011), Big Data would be a unique source of improving the productivity, competitiveness, and innovation of the business organization. Similarly, McAfee et al. (2012) argued that Big Data can enhance the entire decision-making function of a firm. According to Brown et al. (2011), the reasoning behind this transformation of the entire decision-making function of a firm lies in the caliber of Big Data to change the footprint of competitiveness by fostering innovation, shifting business ecosystems, and revamping business processes. Therefore, it is significant to study Big Data due to its enormous capability of transforming entire business processes. Scholars have argued that competitive advantage in this era comprehensively depends on……..