Big Data Analytics

This chapter discusses the use of Big Data Analytics (BDA) in innovation management and value creation. Based on a literature review, the features and nature of this type of data have been explored, and examples of innovation resulting from BDA methods have been presented. At present, many organizations focus on value creation through innovations (with the use of BDA) both in the context of creating increased value for customers purchasing its goods, as well as for business shareholders who want to see their stake appreciate in value. The focus was on innovations in management. The final result is the development of a BDA-based value creation model. The proposed model was based on two assumptions: (1) The implemented innovations start the process of creating value for the enterprise. (2) Value creation is a process, and the value itself is the result of this process.