BIG data – BIG gains? Understanding the link between big data analytics and innovation
Fabienne Rasel and
Steffen Viete ()
EconStor Open Access Articles, 2018, 1-21
This paper analyzes the relationship between firms' use of big data analytics and their innovative performance in terms of product innovations. Since big data technologies provide new data information practices, they create novel decision-making possibilities, which are widely believed to support firms' innovation process. Applying German firm-level data within a knowledge production function framework we find suggestive evidence that big data analytics is a relevant determinant for the likelihood of a firm becoming a product innovator as well as for the market success of product innovations. These results hold for the manufacturing as well as for the service sector but are contingent on firms' investment in IT-specific skills. Overall, the results support the view that big data analytics have the potential to enable innovation.
Keywords: Big data; data-driven; decision-making; product innovation; firm-level data (search for similar items in EconPapers)
JEL-codes: D22 L20 O33 (search for similar items in EconPapers)
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Journal Article: BIG data – BIG gains? Understanding the link between big data analytics and innovation (2019)
Working Paper: BIG Data - BIG Gains? Understanding the Link Between Big Data Analytics and Innovation (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:184753
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