Big data adoption challenges and benefits: the case of a South African bank
Date
2020
Authors
Matsimbi, Johannes Chabane
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Abstract
The origins of Big Data have not been confirmed; however, it is suspected that it originated in the mid-1990s. Since then, the adoption of Big Data has gained momentum in many industries. This study sought to establish how data is collected and highlight the challenges that are experienced during Big Data adoption. The research also sought to establish how the adoption of Big Data can benefit organisations.
A qualitative study was conducted, consisting of a sample of 15 participants from the South Africa bank’s Information Technology (IT) Department. Semi-structured interviews were conducted to collect the data. The data was analysed through the qualitative tool NVivo, to assist with the process of coming up with codes and patterns. Then these patterns were used to create themes to assist with analysis.
The study revealed that the bank uses industry-appropriate tools that are also suitable for collecting and curating Big Data. The study further showed that skills scarcity could be a significant challenge when implementing Big Data projects. The architecture of the organisation, governance around how projects are implemented, as well as common understanding regarding how the data should be packaged, can be a challenge when implementing Big Data projects. Despite the challenges presented by Big Data, the study also found that there are benefits for Big Data adoption. The benefits for Big Data include, amongst others, enhancement of customer-centric marketing, data-driven product development and data monetisation, to mention, but a few.
The study added to the body of knowledge (BoK) by demonstrating that the benefits of Big Data adoption outweigh the challenges presented by Big Data. The study suggests that more investments should be put in place for change management when implementing projects of this magnitude. Change management would assist in monitoring the impact of the projects on how people do their jobs and provide clarity on the required changes regarding how systems will work, such as process optimisation. The knowledge gained from this study provides valuable insights for researchers, bank leaders and Big Data practitioners about the importance of adopting Big Data and the benefits derived from doing so.
Description
A research report submitted in fulfilment of the requirements for the degree of Master of Management in the field of Digital Business to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, 2020