Showing papers on "Business analytics published in 2017"

Data Mining and Analytics in the Process Industry: The Role of Machine Learning

Abstract: Data mining and analytics have played an important role in knowledge discovery and decision making/supports in the process industry over the past several decades. As a computational engine to data mining and analytics, machine learning serves as basic tools for information extraction, data pattern recognition and predictions. From the perspective of machine learning, this paper provides a review on existing data mining and analytics applications in the process industry over the past several decades. The state-of-the-art of data mining and analytics are reviewed through eight unsupervised learning and ten supervised learning algorithms, as well as the application status of semi-supervised learning algorithms. Several perspectives are highlighted and discussed for future researches on data mining and analytics in the process industry.

Challenges and opportunities of digital information at the intersection of Big Data Analytics and supply chain management

Abstract: Purpose Despite the variety of supply chain management (SCM) research, little attention has been given to the use of Big Data Analytics for increased information exploitation in a supply chain. The purpose of this paper is to contribute to theory development in SCM by investigating the potential impacts of Big Data Analytics on information usage in a corporate and supply chain context. As it is imperative for companies in the supply chain to have access to up-to-date, accurate, and meaningful information, the exploratory research will provide insights into the opportunities and challenges emerging from the adoption of Big Data Analytics in SCM. Design/methodology/approach Although Big Data Analytics is gaining increasing attention in management, empirical research on the topic is still scarce. Due to the limited availability of comparable material at the intersection of Big Data Analytics and SCM, the authors apply the Delphi research technique. Findings Portraying the emerging transition trend from a digital business environment, the presented Delphi study findings contribute to extant knowledge by identifying 43 opportunities and challenges linked to the emergence of Big Data Analytics from a corporate and supply chain perspective. Research limitations/implications These constructs equip the research community with a first collection of aspects, which could provide the basis to tailor further research at the nexus of Big Data Analytics and SCM. Originality/value The research adds to the existing knowledge base as no empirical research has been presented so far specifically assessing opportunities and challenges on corporate and supply chain level with a special focus on the implications imposed through Big Data Analytics.

Modelling quality dynamics, business value and firm performance in a big data analytics environment

Abstract: Big data analytics have become an increasingly important component for firms across advanced economies. This paper examines the quality dynamics in big data environment that are linked with enhancing business value and firm performance (FPER). The study identifies that system quality (i.e. system reliability, accessibility, adaptability, integration, response time and privacy) and information quality (i.e. completeness, accuracy, format and currency) are key to enhance business value and FPER in a big data environment. The study also proposes that the relationship between quality and FPER is mediated by business value of big data. Drawing on the resource-based theory and the information systems success literature, this study extends knowledge in this domain by linking system quality, information quality, business value and FPER.

Creating value from Social Big Data: Implications for Smart Tourism Destinations

Abstract: This paper aims to demonstrate how the huge amount of Social Big Data available from tourists can nurture the value creation process for a Smart Tourism Destination. Applying a multiple-case study analysis, the paper explores a set of regional tourist experiences related to a Southern European region and destination, to derive patterns and opportunities of value creation generated by Big Data in tourism. Findings present and discuss evidence in terms of improving decision-making, creating marketing strategies with more personalized offerings, transparency and trust in dialogue with customers and stakeholders, and emergence of new business models. Finally, implications are presented for researchers and practitioners interested in the managerial exploitation of Big Data in the context of information-intensive industries and mainly in Tourism.

Recent Development in Big Data Analytics for Business Operations and Risk Management

Abstract: “Big data” is an emerging topic and has attracted the attention of many researchers and practitioners in industrial systems engineering and cybernetics. Big data analytics would definitely lead to valuable knowledge for many organizations. Business operations and risk management can be a beneficiary as there are many data collection channels in the related industrial systems (e.g., wireless sensor networks, Internet-based systems, etc.). Big data research, however, is still in its infancy. Its focus is rather unclear and related studies are not well amalgamated. This paper aims to present the challenges and opportunities of big data analytics in this unique application domain. Technological development and advances for industrial-based business systems, reliability and security of industrial systems, and their operational risk management are examined. Important areas for future research are also discussed and revealed.

Big Data and Analytics in the Modern Audit Engagement: Research Needs

Abstract: SUMMARY: Modern audit engagements often involve examination of clients that are using Big Data and analytics to remain competitive and relevant in today's business environment. Client systems now are integrated with the cloud, the Internet of Things, and external data sources such as social media. Furthermore, many engagement clients are now integrating this Big Data with new and complex business analytical approaches to generate intelligence for decision making. This scenario provides almost limitless opportunities and the urgency for the external auditor to utilize advanced analytics. This paper first positions the need for the external audit profession to move toward Big Data and audit analytics. It then reviews the regulations regarding audit evidence and analytical procedures, in contrast to the emerging environment of Big Data and advanced analytics. In a Big Data environment, the audit profession has the potential to undertake more advanced predictive and prescriptive-oriented analytics. The next s...

Learning analytics in higher education --- challenges and policies: a review of eight learning analytics policies

Abstract: This paper presents the results of a review of eight policies for learning analytics of relevance for higher education, and discusses how these policies have tried to address prominent challenges in the adoption of learning analytics, as identified in the literature. The results show that more considerations need to be given to establishing communication channels among stakeholders and adopting pedagogy-based approaches to learning analytics. It also reveals the shortage of guidance for developing data literacy among end-users and evaluating the progress and impact of learning analytics. Moreover, the review highlights the need to establish formalised guidelines to monitor the soundness, effectiveness, and legitimacy of learning analytics. As interest in learning analytics among higher education institutions continues to grow, this review will provide insights into policy and strategic planning for the adoption of learning analytics.

How AUDI AG Established Big Data Analytics in its Digital Transformation

Abstract: Digital transformation, which often includes establishing big data analytics capabilities, poses considerable challenges for traditional manufacturing organizations, such as car companies. Successfully introducing big data analytics requires substantial organizational transformation and new organizational structures and business processes. Based on the three-stage evolution of big data analytics capabilities at AUDI, we provide recommendations for how traditional manufacturing organizations can successfully introduce big data analytics and master the related organizational transformations.

Big Data Text Analytics an enabler of Knowledge Management

Abstract: Purpose The purpose of this paper is to examine the role of big data text analytics as an enabler of knowledge management (KM). The paper argues that big data text analytics represents an important means to visualise and analyse data, especially unstructured data, which have the potential to improve KM within organisations. Design/methodology/approach The study uses text analytics to review 196 articles published in two of the leading KM journals – Journal of Knowledge Management and Journal of Knowledge Management Research & Practice – in 2013 and 2014. The text analytics approach is used to process, extract and analyse the 196 papers to identify trends in terms of keywords, topics and keyword/topic clusters to show the utility of big data text analytics. Findings The findings show how big data text analytics can have a key enabler role in KM. Drawing on the 196 articles analysed, the paper shows the power of big data-oriented text analytics tools in supporting KM through the visualisation of data. In this way, the authors highlight the nature and quality of the knowledge generated through this method for efficient KM in developing a competitive advantage. Research limitations/implications The research has important implications concerning the role of big data text analytics in KM, and specifically the nature and quality of knowledge produced using text analytics. The authors use text analytics to exemplify the value of big data in the context of KM and highlight how future studies could develop and extend these findings in different contexts. Practical implications Results contribute to understanding the role of big data text analytics as a means to enhance the effectiveness of KM. The paper provides important insights that can be applied to different business functions, from supply chain management to marketing management to support KM, through the use of big data text analytics. Originality/value The study demonstrates the practical application of the big data tools for data visualisation, and, with it, improving KM.

Big Data and Data Analytics Research: From Metaphors to Value Space for Collective Wisdom in Human Decision Making and Smart Machines

Abstract: The Big Data and Data Analytics is a brand new paradigm, for the integration of Internet Technology in the human and machine context. For the first time in the history of the human mankind we are able to transforming raw data that are massively produced by humans and machines in to knowledge and wisdom capable of supporting smart decision making, innovative services, new business models, innovation, and entrepreneurship. For the Web Science research, this is a new methodological and technological spectrum of advanced methods, frameworks and functionalities never experienced in the past. At the same moment communities out of web science need to realize the potential of this new paradigm with the support of new sound business models and a critical shift in the perception of decision making. In this short visioning article, the authors are analyzing the main aspects of Big Data and Data Analytics Research and they provide their own metaphor for the next years. A number of research directions are outlined as well as a new roadmap towards the evolution of Big Data to Smart Decisions and Cognitive Computing. The authors do hope that the readers would like to react and to propose their own value propositions for the domain initiating a scientific dialogue beyond self-fulfilled expectations.

Where is the evidence?: a call to action for learning analytics

Abstract: Where is the evidence for learning analytics? In particular, where is the evidence that it improves learning in practice? Can we rely on it? Currently, there are vigorous debates about the quality of research evidence in medicine and psychology, with particular issues around statistical good practice, the 'file drawer effect', and ways in which incentives for stakeholders in the research process reward the quantity of research produced rather than the quality. In this paper, we present the Learning Analytics Community Exchange (LACE) project's Evidence Hub, an effort to relate research evidence in learning analytics to four propositions about learning analytics: whether they support learning, support teaching, are deployed widely, and are used ethically. Surprisingly little evidence in this strong, specific sense was found, and very little was negative (7%, N=123), suggesting that learning analytics is not immune from the pressures in other areas. We explore the evidence in one particular area in detail (whether learning analytics improve teaching and learners support in the university sector), and set out some of the weaknesses of the evidence available. We conclude that there is considerable scope for improving the evidence base for learning analytics, and set out some suggestions of ways for various stakeholders to achieve this.

How Does Business Analytics Contribute to Business Value

Abstract: This paper presents a model, synthesized from the literature, of factors that explain how business analytics contributes to business value. It also reports results from a preliminary assessment of that model. The model consists of two parts: a process and a variance model. The process model depicts the analyze-insight-decision-action process through which use of an organization's business analytic capabilities is intended to create business value. The variance model proposes that the five factors in Davenport et al.'s DELTA model of business analytics success factors, six from Watson & Wixom and three from Seddon et al.'s model of organizational benefits from enterprise systems, assist a firm to gain business value from business analytics. A preliminary assessment of the model was conducted using data from 100 customer success stories from vendors such as IBM, SAP and Teradata. Our conclusion is that the business analytics success model is likely to be a useful basis for future research.

Trends and issues in student-facing learning analytics reporting systems research

Abstract: We conducted a literature review on systems that track learning analytics data (e.g., resource use, time spent, assessment data, etc.) and provide a report back to students in the form of visualizations, feedback, or recommendations. This review included a rigorous article search process; 945 articles were identified in the initial search. After filtering out articles that did not meet the inclusion criteria, 94 articles were included in the final analysis. Articles were coded on five categories chosen based on previous work done in this area: functionality, data sources, design analysis, perceived effects, and actual effects. The purpose of this review is to identify trends in the current student-facing learning analytics reporting system literature and provide recommendations for learning analytics researchers and practitioners for future work.

Business analytics-enabled decision-making effectiveness through knowledge absorptive capacity in health care

Abstract: Purpose Drawing on the resource-based theory and dynamic capability view, this paper aims to examine the mechanisms by which business analytics (BA) capabilities (i.e. the effective use of data aggregation, analytics and data interpretation tools) in healthcare units indirectly influence decision-making effectiveness through the mediating role of knowledge absorptive capacity. Design/methodology/approach Using a survey method, this study collected data from the hospitals in Taiwan. Of the 155 responses received, three were incomplete, giving a 35.84 per cent response rate with 152 valid data points. Structural equation modeling was used to test the hypotheses. Findings This study conceptualizes, operationalizes and measures the BA capability as a multi-dimensional construct that is formed by capturing the functionalities of BA systems in health care, leading to the conclusion that healthcare units are likely to obtain valuable knowledge through using the data analysis and interpretation tools effectively. The effective use of data analysis and interpretation tools in healthcare units indirectly influence decision-making effectiveness, an impact that is mediated by absorptive capacity. Originality/value This study adds values to the literature by conceptualizing BA capabilities in healthcare and demonstrating how knowledge absorption matters when implementing BA to the decision-making process. The mediating role of absorptive capacity not only provides a mechanism by which BA can contribute to decision-making practices but also offers a new solution to the puzzle of the IT productivity paradox in healthcare settings.

Big Data Analytics in Chemical Engineering

Abstract: Big data analytics is the journey to turn data into insights for more informed business and operational decisions. As the chemical engineering community is collecting more data (volume) from different sources (variety), this journey becomes more challenging in terms of using the right data and the right tools (analytics) to make the right decisions in real time (velocity). This article highlights recent big data advancements in five industries, including chemicals, energy, semiconductors, pharmaceuticals, and food, and then discusses technical, platform, and culture challenges. To reach the next milestone in multiplying successes to the enterprise level, government, academia, and industry need to collaboratively focus on workforce development and innovation.

Social Media Analytics: Literature Review and Directions for Future Research

Abstract: Businesses are currently using social media analytics SMA to develop insights for improving performance and productivity across different functions. The SMA knowledge is growing diversely, and there is a need to understand the trends and approaches holistically. The present paper offers a comprehensive review of the SMA empirical literature and directions for future research. The review is based on 54 papers selected out of 843 search results. The review focuses on different domains: industrial domains, data-mining objectives, use cases, and applications. Out of the studies, public administration and consumer discretionary sectors are the dominant ones with Twitter data being used in most of the analysis. Out of the possible techniques, classification techniques and regression models are more popular than others. Stakeholder engagement is the most focused theme in the research studies. The review also offers insights into which analytical approaches are being used in which industrial domains for specific decision making. It further suggests that novel methods, such as cross-media data classification, tags detection, label priority ranking, tweeting activity signatures, and geospatial data processing have been used less and could be further explored in future research. The review also offers implications for the decision sciences domain.

Are Higher Education Institutions Prepared for Learning Analytics

Abstract: Higher education institutions and involved stakeholders can derive multiple benefits from learning analytics by using different data analytics strategies to produce summative, real-time, and predictive insights and recommendations. However, are institutions and academic as well as administrative staff prepared for learning analytics? A learning analytics benefits matrix was used for this study to investigate the current capabilities of learning analytics at higher education institutions, explore the importance of data sources for a valid learning analytics framework, and gain an understanding of how important insights from learning analytics are perceived. The findings reveal that there is a lack of staff and technology available for learning analytics projects. We conclude that it will be necessary to conduct more empirical research on the validity of learning analytics frameworks and on expected benefits for learning and instruction to confirm the high hopes this promising emerging technology raises.

Adoption of business analytics and impact on performance: a qualitative study in retail

Abstract: This paper describes a qualitative study aimed at understanding issues faced by retail firms when they start a project of implementing business analytics (BA) and understanding the impact of BA implementation on business performance. Our study is informed by prior literature and the theoretical perspectives of the Technology–Organisation–Environment (TOE) framework but is not constrained by this theory. Using case studies of nine retailers in the U.K, we have found support for the link between TOE elements and adoption. In addition, we have identified more interesting involvement of additional factors in ensuring how firms could maximise benefit derived from BA and traditional TOE factors that potentially could have additional impacts different from the ones. For example, there appears a link between adoption of BA and business performance (including performance in terms of environmental sustainability), and this link is moderated by the level of BA adoption, IT integration and trust.

Big data systems: knowledge transfer or intelligence insights?

Abstract: Purpose This paper aims to bring together the existing theory from knowledge management (KM), competitive intelligence (CI) and big data analytics to develop a more comprehensive view of the full range of intangible assets (data, information, knowledge and intelligence). By doing so, the interactions of the intangibles are better understood and recommendations can be made for the appropriate structure of big data systems in different circumstances. Metrics are also applied to illustrate how one can identify and understand what these different circumstances might look like. Design/methodology/approach The approach is chiefly conceptual, combining theory from multiple disciplines enhanced with practical applications. Illustrative data drawn from other empirical work are applied to illustrate some concepts. Findings Theory suggests that the KM theory is particularly useful in guiding big data system installations that focus primarily on the transfer of data/information. For big data systems focused on analytical insights, the CI theory might be a better match, as the system structures are actually quite similar. Practical implications Though the guidelines are general, practitioners should be able to evaluate their own situations and perhaps make better decisions about the direction of their big data systems. One can make the case that all the disciplines have something to add to improving how intangibles are deployed and applied and that improving coordination between KM and analytics/intelligence functions will help all intangibles systems to work more effectively. Originality/value To the authors’ knowledge, very few scholars work in this area, at the intersection of multiple types of intangible assets. The metrics are unique, especially in their scale and attachment to theory, allowing insights that provide more clarity to scholars and practical direction to industry.

The rise (and fall?) of HR analytics: A study into the future application, value, structure, and system support

Abstract: Driven by the rapidly accelerating pace of technology-enabled developments within human resource management (HRM), human resource (HR) analytics is infiltrating the research and business agenda. As one of the first in its field, the purpose of this paper is to explore what the future of HR analytics might look like.,Using a sample of 20 practitioners of HR analytics, based in 11 large Dutch organizations, the authors investigated what the application, value, structure, and system support of HR analytics might look like in 2025.,The findings suggest that, by 2025, HR analytics will have become an established discipline, will have a proven impact on business outcomes, and will have a strong influence in operational and strategic decision making. Furthermore, the development of HR analytics will be characterized by integration, with data and IT infrastructure integrated across disciplines and even across organizational boundaries. Moreover, the HR analytics function may very well be subsumed in a central analytics function – transcending individual disciplines such as marketing, finance, and HRM.,The results of the research imply that HR analytics, as a separate function, department, or team, may very well cease to exist, even before it reaches maturity.,Empirical research on HR analytics is scarce, and studies on scenarios, values, and structures of expected developments in HR analytics are non-existent. This research intends to contribute to a better understanding of the development of HR analytics, to facilitate business and HR leaders in taking informed decisions on investing in the further development of the HR analytics discipline. Such investments may lead to an enhanced HR analytics capability within organizations, and cultivate the fact-based and data-driven culture that many organizations and leaders try to pursue.

Improving the use of analytics and big data by changing the decision-making culture: A design approach

Abstract: Evolving digital technologies continue to enable new ways to collect and analyze data and this has led some researchers to claim that skillful use of data analytics and big data can radically improve a company’s performance, but that in order to achieve such improvements managers need to change their decision-making culture and to increase the degree of collaboration in the decision-making process. The purpose of this paper is to create an increased understanding of how a decision-making culture can be changed by using a design approach.,The paper presents an action research project in which the authors use a design approach.,By adopting a design approach organizations can change their decision-making culture, increase the degree of collaboration and also reduce the influence of power and politics on their decision-making.,This paper proposes a new approach to changing a decision-making culture.,Using data analytics and big data, a design approach can support organizations change their decision-making culture resulting in better and more effective decisions.,This paper bridges design and decision-making theory in a novel approach to an old problem.