Big Data and Policy Directions for Korean Service Firms

Minsung Kang (mins.kang@kiet.re.kr)
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Minsung Kang: Korea Institute for Industrial Economics and Trade, http://www.kiet.re.kr

No 20-11, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: With the development of IT technology and the emergence of online platform business models, data accumulation is increasing exponentially, and unit accumulation cost is decreasing exponentially. Most of all, data is recognized as a new economic resource. Policy considerations of the economization of data and in particular, the expansion of investment in the accumulation and analysis of big data and the enhancement of response capabilities are now a challenge for most countries. The purpose of this study is to grasp the proliferation status of big data usage from the perspective of companies, which are the main agent accumulating and utilizing big data.

Keywords: big data; service industry; big data analytics; firm performance; data mining (search for similar items in EconPapers)
JEL-codes: C55 L80 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2020-08-01
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