IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v9y2022i4p336-358.html
   My bibliography  Save this article

Business-making supported via the application of big data to achieve economic sustainability

Author

Listed:
  • Gabriel Koman

    (University of Žilina, Slovakia)

  • Dominika Tumová

    (University of Žilina, Slovakia)

  • Radoslav Jankal

    (University of Žilina, Slovakia)

  • Martin Mičiak

    (University of Žilina, Slovakia)

Abstract

Decision-making of managers in companies is currently significantly influenced by instantly available information. This phenomenon was caused by advances in information and communication technologies (ICT) and the development of a new generation of machines and systems that create an abundance of diverse data. For managers, this data is a source of information that needs to be obtained in an appropriate manner using different technologies. Technologies that enable the acquisition of this information from available data become an essential part of each company and its management processes. Since technology is currently entering the decision-making process in a significant way, this can be seen as the digital transformation of decision-making processes in companies. The ability to capture, process and assess a very large amount of available data represents the implementation of decisions that make the company’s activity more efficient and sustainable (e.g., achieving a competitive advantage, increasing sales or profits, development of new products, etc.). The article presents the results of the conducted research focused on identifying the benefits of implementing Big Data solutions in companies. The main method applied was content analysis of multiple cases followed by the categorization of data extracted. The research hypothesis was stated as follows: There are significant reasons that justify the application of Big Data in managerial decision-making to support the achievement of economic sustainability. The findings from the research (categories) support the importance of the Big Data solutions applied in the managerial decision-making for ensuring the sustainable operation of companies with the current trend of generating and processing a large variety of data.

Suggested Citation

  • Gabriel Koman & Dominika Tumová & Radoslav Jankal & Martin Mičiak, 2022. "Business-making supported via the application of big data to achieve economic sustainability," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(4), pages 336-358, June.
    • Handle: RePEc:ssi:jouesi:v:9:y:2022:i:4:p:336-358
    DOI: 10.9770/jesi.2022.9.4(18)
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/36/Koman_Businessmaking_supported_via_the_application_of_big_data_to_achieve_economic_sustainability.pdf
    Download Restriction: no
    File URL: https://jssidoi.org/jesi/article/975
    Download Restriction: no
    File URL: https://libkey.io/10.9770/jesi.2022.9.4(18)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ali Kharrazi & Hua Qin & Yi Zhang, 2016. "Urban Big Data and Sustainable Development Goals: Challenges and Opportunities," Sustainability, MDPI, vol. 8(12), pages 1-6, December.
    2. Shiann Ming Wu & Tsung-chun Chen & Yenchun Jim Wu & Miltiadis Lytras, 2018. "Smart Cities in Taiwan: A Perspective on Big Data Applications," Sustainability, MDPI, vol. 10(1), pages 1-14, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Martin Holubčík & Jakub Soviar & Viliam Lendel, 2022. "Through Synergy in Cooperation towards Sustainable Business Strategy Management," Sustainability, MDPI, vol. 15(1), pages 1-30, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yu Zhao & Guoqin Zhang & Tao Lin & Xiaofang Liu & Jiakun Liu & Meixia Lin & Hong Ye & Lingjie Kong, 2018. "Towards Sustainable Urban Communities: A Composite Spatial Accessibility Assessment for Residential Suitability Based on Network Big Data," Sustainability, MDPI, vol. 10(12), pages 1-18, December.
    2. Ian Sutherland & Youngseok Sim & Seul Ki Lee & Jaemun Byun & Kiattipoom Kiatkawsin, 2020. "Topic Modeling of Online Accommodation Reviews via Latent Dirichlet Allocation," Sustainability, MDPI, vol. 12(5), pages 1-15, February.
    3. Sewoong Hwang & Zoonky Lee & Jonghyuk Kim, 2019. "Real-Time Pedestrian Flow Analysis Using Networked Sensors for a Smart Subway System," Sustainability, MDPI, vol. 11(23), pages 1-16, November.
    4. Kyunghun Min & Baysok Jun & Jaehyuck Lee & Hong Kim & Katsunori Furuya, 2019. "Analysis of Environmental Issues with an Application of Civil Complaints: The Case of Shiheung City, Republic of Korea," IJERPH, MDPI, vol. 16(6), pages 1-21, March.
    5. Hone-Jay Chu & Yu-Chen He & Wachidatin Nisa’ul Chusnah & Lalu Muhamad Jaelani & Chih-Hua Chang, 2021. "Multi-Reservoir Water Quality Mapping from Remote Sensing Using Spatial Regression," Sustainability, MDPI, vol. 13(11), pages 1-13, June.
    6. David Tremblay & Sabine Gowsy & Olivier Riffon & Jean-François Boucher & Samuel Dubé & Claude Villeneuve, 2021. "A Systemic Approach for Sustainability Implementation Planning at the Local Level by SDG Target Prioritization: The Case of Quebec City," Sustainability, MDPI, vol. 13(5), pages 1-20, February.
    7. Maged Adel Abdo Mukred & Zheng Jianguo, 2017. "Use of Big Data to Improve Environmental Sustainability in Developing Countries," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(11), pages 249-249, October.
    8. Ming-Tsang Lu & Hsi-Peng Lu & Chiao-Shan Chen, 2022. "Exploring the Key Priority Development Projects of Smart Transportation for Sustainability: Using Kano Model," Sustainability, MDPI, vol. 14(15), pages 1-19, July.
    9. Miguel Ángel Queiruga-Dios & Emilia López-Iñesta & María Diez-Ojeda & María Consuelo Sáiz-Manzanares & José Benito Vázquez Dorrío, 2020. "Citizen Science for Scientific Literacy and the Attainment of Sustainable Development Goals in Formal Education," Sustainability, MDPI, vol. 12(10), pages 1-18, May.
    10. Miltiadis D. Lytras & Anna Visvizi, 2018. "Who Uses Smart City Services and What to Make of It: Toward Interdisciplinary Smart Cities Research," Sustainability, MDPI, vol. 10(6), pages 1-16, June.
    11. Kyunghun Min & Moonyoung Yoon & Katsunori Furuya, 2019. "A Comparison of a Smart City’s Trends in Urban Planning before and after 2016 through Keyword Network Analysis," Sustainability, MDPI, vol. 11(11), pages 1-25, June.
    12. Francisco Tomatis & Luisa F. Lozano-Castellanos & Oscar L. García-Navarrete & Adriana Correa-Guimaraes & Maria Sol Wilhelm & Ouiam Fatiha Boukharta & Diana A. Murcia Velasco & José E. Méndez-Vanegas, 2022. "Evaluation of Urban Sustainability in Cities of The French Way of Saint James (Camino de Santiago Francés) in Castilla y León according to The Spanish Urban Agenda," Sustainability, MDPI, vol. 14(15), pages 1-19, July.
    13. Jiajia Huan & Ling Han, 2022. "Potential Contribution to Carbon Neutrality Strategy from Industrial Symbiosis: Evidence from a Local Coal-Aluminum-Electricity-Steel Industrial System," Sustainability, MDPI, vol. 14(5), pages 1-14, February.
    14. Abdulrahman Housawi & Amal Al Amoudi & Basim Alsaywid & Miltiadis Lytras & Yara H. bin Μoreba & Wesam Abuznadah & Sami A. Alhaidar, 2020. "Evaluation of Key Performance Indicators (KPIs) for Sustainable Postgraduate Medical Training: An Opportunity for Implementing an Innovative Approach to Advance the Quality of Training Programs at the," Sustainability, MDPI, vol. 12(19), pages 1-37, September.
    15. Szopik-Depczyńska, Katarzyna & Cheba, Katarzyna & Bąk, Iwona & Kiba-Janiak, Maja & Saniuk, Sebastian & Dembińska, Izabela & Ioppolo, Giuseppe, 2017. "The application of relative taxonomy to the study of disproportions in the area of sustainable development of the European Union," Land Use Policy, Elsevier, vol. 68(C), pages 481-491.
    16. Pei Pei & Zongjie Huo & Oscar Sanjuán Martínez & Rubén González Crespo, 2020. "Minimal Green Energy Consumption and Workload Management for Data Centers on Smart City Platforms," Sustainability, MDPI, vol. 12(8), pages 1-14, April.
    17. Yunlong Cheng & Jian Yang, 2023. "Spatial and Temporal Divergence in the Coupling Coordination of Digital Economy, Environmental Regulation and Sustainable Development: An Experience Study in China," Sustainability, MDPI, vol. 15(12), pages 1-16, June.
    18. Maksymilian Mądziel, 2023. "Future Cities Carbon Emission Models: Hybrid Vehicle Emission Modelling for Low-Emission Zones," Energies, MDPI, vol. 16(19), pages 1-16, October.
    19. Yung Chang Wu & Rui Sun & Yenchun Jim Wu, 2020. "Smart City Development in Taiwan: From the Perspective of the Information Security Policy," Sustainability, MDPI, vol. 12(7), pages 1-18, April.
    20. Anna Visvizi & Miltiadis D. Lytras, 2018. "It’s Not a Fad: Smart Cities and Smart Villages Research in European and Global Contexts," Sustainability, MDPI, vol. 10(8), pages 1-10, August.

    More about this item

    Keywords

    sustainable entrepreneurship; Big Data; decision-making; management; information and communication technology;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:9:y:2022:i:4:p:336-358. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.