Big data and dynamic capabilities in the digital revolution: The hidden role of source variety |
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| Institution: | 1. Federal Reserve Bank of Philadelphia, United States of America;2. Harvard Business School and NBER, United States of America;3. Harvard University, United States of America;4. Yale University, United States of America;1. Antai College of Economics and Management, Shanghai Jiao Tong University, People''s Republic of China;2. Warwick Business School, University of Warwick, United Kingdom of Great Britain and Northern Ireland;3. School of Management, Fudan University, People''s Republic of China;4. School of Computing, National University of Singapore, Republic of Singapore;1. Antai College of Economics and Management, Shanghai Jiao Tong University, Shanghai 200030, China;2. Department of Information Management, Peking University, Beijing 100871, China;3. School of Management, Zhejiang University, Hangzhou, Zhejiang Province, 310058, PR China;4. Institute for Manufacturing, University of Cambridge, Cambridge CB3 0FS, United Kingdom;1. Faculty of Business Administration, University of Macau, Macau;2. Department of Marketing and International Business, Lingnan University, Hong Kong, China;3. School of Economics and Management, Southeast University, Nanjing, Jiangsu 210009, China;4. School of Public Economics and Administration, Shanghai University of Finance and Economics, Shanghai, 200433, China;1. University of Southern California, Marshall School of Business, United States of America;2. Copenhagen Business School, Denmark |
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| Abstract: | Recent research frames big data as a resource enhancing dynamic capabilities through improved prediction, decision-making, and data-driven innovation. In contrast, this study frames big data as an evolutionary driver that channels firms' knowledge and attention in specific directions, implying that firms need multiple big data sources to be receptive and dynamically capable. I apply this framework to the context of the digital revolution and focus on the impact of big data on firms' digitalization priorities. By leveraging a large-scale survey of more than twenty thousand Italian firms of all sizes, I find that big data improves the digitalization awareness of firms only if they gather big data from more than one source (otherwise, counterintuitively, it may even decrease it). I also find a positive effect of source variety both on the likelihood of prioritizing individual digitalization factors and on the variety of digitalization factors prioritized. Such effects appear to be stronger for small firms relative to their larger counterparts. Given the path dependence of digitalization trajectories, these findings have relevant policy implications in the context of initiatives like the European strategy for data and the SME strategy for a sustainable and digital Europe. |
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