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Big Data Management: Relational Framework

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  • Peter Géczy

Abstract

Volumes of available digital data have been significantly expanding over the past decade. Alongside the volume, diversity and complexity of digital data have also been growing. Contemporary devices and systems are capable of generating data vastly exceeding capabilities of organizations and conventional information technologies to process it. Big, diverse and complex data presents novel challenges for organizations―but also opportunities. Big data enables tackling longstanding complex problems that would otherwise be out of reach. It also opens new scientific and commercial possibilities that could not exist without availability of data. Organizations utilizing large volumes of diverse data, however, face unique challenges. The challenges range from technological and processing issues to business and management matters. Organizations need to adopt appropriate management strategy in order to satisfactorily deal with the issues arising from utilization of big data. This necessitates understanding of relationships between the aspects of data and their managerial consequences. We examine the essential characteristics of big data and explore pertinent managerial implications.

Suggested Citation

  • Peter Géczy, 2015. "Big Data Management: Relational Framework," Review of Business and Finance Studies, The Institute for Business and Finance Research, vol. 6(3), pages 21-30.
    • Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:21-30
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    References listed on IDEAS

    as
    1. Peter Géczy & Noriaki Izumi & Kôiti Hasida, 2012. "Cloudsourcing: Managing Cloud Adoption," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 6(2), pages 57-70.
    2. Peter Géczy & Noriaki Izumi & Koiti Hasida, 2011. "Foundations For Effective Portal Service Management," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 5(2), pages 131-141.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Big Data; Data Aspects; Processing Capabilities; Strategy; Actionable Knowledge; Information Technology Management; Management of Information Systems;
    All these keywords.

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management

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