Short answer

When developing data-intensive products or services, ensure that the design process accounts for the necessary human capital, operational frameworks, and policy environments to enable successful market adoption and economic value.

Field: Innovation & Markets
Source: The Knowledge Bank (The Ohio State University) (2015)
Method: Literature review and economic analysis
Evidence: Strong effect

The successful integration and economic impact of big data initiatives are significantly influenced by complementary factors such as talent, organizational processes, and supportive policies, not solely by technological investment. This innovation & markets research insight is drawn from a 2015 study published in The Knowledge Bank (The Ohio State University). Using Literature review and economic analysis, researchers explored how this design variable affects real-world outcomes. The key design takeaway: When developing data-intensive products or services, ensure that the design process accounts for the necessary human capital, operational frameworks, and policy environments to enable successful market adoption and economic value.

Study

Innovation & MarketsHigh ImpactStrong effect

Big Data Adoption Requires More Than Just Technology Investment for Economic Impact

The Knowledge Bank (The Ohio State University) · 2015

Key Findings

01Big data has the potential for broad-based economic impact across industries.
02Maximizing the value of big data requires not only technological investment but also the right talent, policies, and organizational processes.

Application

Design takeaway

How to apply

When proposing a new data-driven product or service, conduct a stakeholder analysis that includes identifying required skills, potential policy barriers, and necessary changes to existing business processes.

Project actions

01When researching a new technology for your design project, think about who will use it and what skills they'll need.
02Consider how your design will fit into existing company structures and if any new policies might be needed.

Method & Evidence

AimTo what extent does the adoption of big data technologies translate into tangible economic impact, and what factors beyond technological investment are critical for maximizing this impact?

MethodLiterature review and economic analysis

ProcedureThe research analyzed the potential economic impact of big data by examining its application across industries and considering traditional productivity measures alongside consumer surplus. It also drew parallels with the adoption history of earlier information technologies to identify key drivers of broad-based impact.

ContextBusiness and technology adoption

Variables

IVInvestment in big data technology, availability of talent, organizational processes, policies.

DVEconomic impact (productivity, consumer surplus).

CVIndustry sector, company size, market conditions.

Strengths & Limitations

Strengths

+Broad industry perspective.
+Integration of economic and technological factors.

Limitations

The economic impact of big data is complex and can be difficult to measure precisely, especially in the short term. The study's conclusions are based on a specific point in time and may not fully capture future developments.

Reliability & validity

The study's conclusions are based on a synthesis of existing research and economic analysis, which can provide a robust overview but may lack the direct empirical control of a specific experimental setup. The validity relies on the accuracy of the underlying economic models and the representative nature of the industries studied.

Think critically

If critics argue that big data's impact hasn't materialized in macroeconomic metrics, what specific challenges might be preventing this broader economic realization, and how could design interventions address these?

Design Principles

"The value of a technological innovation is amplified by the synergistic integration of human talent, supportive policies, and optimized organizational processes."

For design and engineering professionals, this highlights that the success of a data-driven product or service extends beyond its technical functionality. It necessitates a holistic approach that considers the human and organizational elements required for its effective adoption and value realization within a market context.

What This Means for Your Design

Just having the latest technology isn't enough for it to be successful and make money. You also need the right people, good company rules, and smart ways of working to make it really work.

How to use in your project

1.Reference this insight when discussing the broader context of your design project, particularly how user adoption and market integration are influenced by factors beyond the core design itself.

Add to My Project

Quick Cite

Paragraph starter

The successful implementation and economic impact of technological innovations, such as big data, are contingent upon a multifaceted approach. Beyond the initial technological investment, critical success factors include the availability of skilled talent, the establishment of supportive policies, and the optimization of organizational processes. Therefore, a comprehensive design strategy must consider these complementary elements to ensure the effective adoption and value realization of data-driven solutions within their intended market context.

Source

The Knowledge Bank (The Ohio State University)

Big Data, Big Economic Impact?

journal · 2015

View source

Questions About This Research

What does the research say about big data adoption requires more than just technology investment for economic impact?: When developing data-intensive products or services, ensure that the design process accounts for the necessary human capital, operational frameworks, and policy environments to enable successful market adoption and economic value. Evidence: The Knowledge Bank (The Ohio State University) (2015).
Why does "Big Data Adoption Requires More Than Just Technology Investment for Economic Impact" matter for design?: For design and engineering professionals, this highlights that the success of a data-driven product or service extends beyond its technical functionality. It necessitates a holistic approach that considers the human and organizational elements required for its effective adoption and value realization within a market context.
How can designers apply this research?: When developing data-intensive products or services, ensure that the design process accounts for the necessary human capital, operational frameworks, and policy environments to enable successful market adoption and economic value.
What were the main findings?: Big data has the potential for broad-based economic impact across industries.. Maximizing the value of big data requires not only technological investment but also the right talent, policies, and organizational processes.
What research method was used?: Literature review and economic analysis.
How strong is the evidence?: Evidence strength is rated Strong effect, based on a 2015 journal from The Knowledge Bank (The Ohio State University).
What should I do differently in my next project?: When proposing a new data-driven product or service, conduct a stakeholder analysis that includes identifying required skills, potential policy barriers, and necessary changes to existing business processes.
What are the limitations?: The study's findings are based on an analysis conducted a few years prior to the publication date, and the macroeconomic impact of big data may evolve over time. Critics suggest that the materialized impact has not been evident in macroeconomic metrics.