Big Data Driven Decision Making Model: A case of the South African banking sector

Abstract

The quest to develop a Big Data Driven Decision Making framework to support the incorporation of big data analytics into the decision-making process resulted in the development of a decision making model. The study was conducted within the banking sector of South Africa, with participants from three leading South African banking institutions. The conducted research followed the design science research process of awareness, suggestion, development, evaluation and conclusion. This study developed a theoretical Big Data Driven Decision Making model which illustrates the decision-making process in banking using big data. The study further determined the organizational supports that need to be in place to support the big data analytics decision-making process.