Big Data and Strategy: Theoretical Foundations and New Opportunities

The digitization of products, processes, and business models—and the corresponding explosion of big data—has led to an evolution within business organizations. Reaching far beyond information technology's traditional role in business strategy, the implications of this big data phenomenon are considered through an exploration into what big data is, how it is currently being used by existing firms, and how it factors into strategic thinking. As different organizational approaches have developed toward big data, we use resource-based theory and organizational learning as anchoring perspectives to link this phenomenon with traditional strategic management. We also identify four avenues for future scholarship as the nature of business moves increasingly digital.