Assessing Suitability of Applying Big Data Analytics within Small to Medium-Sized Businesses via an ROI-Based Graphic Model

Abstract

Big data has presented itself as a term, phenomena, and paradigm with the potential for many opportunities and challenges. The new potentials of big data seemingly continue to expand both in possibility and complexity. With efforts to exploit these new potentials requiring investments from businesses and organizations it becomes necessary to understand what value is gained from such efforts. Through the methodology of design science this study develops an artifact which incorporates the return on investment model which can be utilized by SMEs. The artifact provides an abstract process model for the use of value assessment of big data efforts by SMEs. This study finds through using test cases that the ROI model can be applied to a generalized artifact which guides the assessment of big data efforts. Further, it is found that through a graphical design the development of a simple and intuitive artifact can be accomplished.