Big Data Big Impact: How Firms are Using Social Media for Innovation and Better Performance
Firms continuously attempt to find new sources of information to innovate and achieve a superior performance. Big data present on social media platforms represents one of the new sources of information that firms are starting to rely on. This paper is an exploratory study to examine how firms are making use of social media and what kind of impact the social media use have. An online questionnaire was used to collect data from 75 firms in the United States. Our findings suggest that Big Data, in the form of social media data, has an impact on the firm’s innovativeness and performance, and that IT capability potentially plays a mediator role in this relation.
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