Judgement, Big Data-Analytics, and Decision-making
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ItemTriple Bottom Line: Exploratory Data Analysis of Lodging Real Estate Investment Trusts( 2022-01-04)Popular frameworks for firm efficiency were developed 40+ years ago by educated, Western businessmen. The world is different now and needs to be analyzed through modern lenses to address complex and evolving business challenges. Students learn how firms can become profitable, however, modern curriculum still does not address why. Corporate Social Responsibility (CSR) created space to better People, Planet, and Profit in topline decision-making, however CSR has become an echo chamber. This research aims to provide a purpose for profit by asking what popular focuses are in an industry, how they differ among firms, and how this research might be used for the benefit of all stakeholders. Firms can use this analysis for decision-making to innovate allocation of resources, educational deployment, and investment in infrastructure to better serve the purpose of profit; external stakeholders can use this analysis to explore industry-wide policy gaps and create tailored solutions for societal needs.
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ItemHarvesting Wisdom on Social Media for Business Decision Making( 2022-01-04)The proliferation of social media provides significant opportunities for organizations to obtain wisdom of the crowds (WOC)-type data for decision making. However, critical challenges associated with collecting such data exist. For example, the openness of social media tends to increase the possibility of social influence, which may diminish group diversity, one of the conditions of WOC. In this research-in-progress paper, a new social media data analytics framework is proposed. It is equipped with well-designed mechanisms (e.g., using different discussion processes to overcome social influence issues and boost social learning) to generate data and employs state-of-the-art big data technologies, e.g., Amazon EMR, for data processing and storage. Design science research methodology is used to develop the framework. This paper contributes to the WOC and social media adoption literature by providing a practical approach for organizations to effectively generate WOC-type data from social media to support their decision making.
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ItemA Guide for selecting big data analytics tools in an organisation( 2022-01-04)Selection of appropriate big data analytics (BDA) tools (software) for business purposes is increasingly challenging, which sometimes lead to incompatibility with existing technologies. This becomes prohibitive in attempts to execute some functions or activities in an environment. The objective of this study was to propose a model, which can be used to guide the selection of BDA in an organization. The interpretivist approach was employed. Qualitative data was collected and analyzed using the hermeneutics approach. The analysis focused on examining and gaining better understanding of the strengths and weaknesses of the most common BDA tools. The technical and non-technical factors that influence the selection of BDA were identified. Based on which a solution is proposed in the form of a model. The model is intended to guide selection of most appropriate BDA tools in an organization. The model is intended to increase BDA usefulness towards improving organization’s competitiveness.
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