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The Innovation Arena: A Method for Comparing Innovative Problem-Solving Across Groups
Published on: May 13, 2022
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Big data analytics capability and co-innovation: An empirical study.
Nelson Lozada1, Jose Arias-Pérez1, Geovanny Perdomo-Charry2
1Department of Administrative Sciences, University of Antioquia, Medellín, Colombia.
Heliyon
|November 1, 2019
Summary
Big Data Analytics Capabilities enhance business innovation by improving co-creation processes and strengthening collaboration networks. This study demonstrates how data analytics drives agile product development and robust stakeholder partnerships.
Area of Science:
- Business Management
- Information Systems
- Innovation Studies
Background:
- Big data analytics is increasingly studied for its organizational applications, particularly in business innovation.
- Understanding the link between data analytics capabilities and co-innovation is crucial for firms.
Purpose of the Study:
- To analyze the relationship between Big Data Analytics Capabilities and Co-innovation.
- To investigate how these capabilities influence product/service co-creation and collaboration.
Main Methods:
- Structural equations modeling using the partial least squares (PLS) method.
- Data collected from a sample of 112 Colombian firms.
Main Results:
- A positive relationship was found between Big Data Analytics Capabilities and co-innovation.
- Enhanced data analytics capabilities lead to more agile product and service co-creation processes.
- Firms with strong data analytics capabilities develop more robust internal and external collaboration networks.
Conclusions:
- Big Data Analytics Capabilities are a significant driver of business innovation.
- Investing in data analytics can foster better co-creation and collaboration, leading to competitive advantages.
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