Vision: A Missing Key Dimension in the 5V Big Data Framework

Abstract

If Big Data is to deliver on its big promises, a well-articulated vision must be developed in a collaborative way and effectively communicated to all key stakeholders. Without a guiding technology vision, the promise and benefits of Big Data will become elusive and lost to many organizations. The literature on Big Data frequently refers to the 5Vs of Big Data (Volume, Variety, Velocity, Veracity and Value). Based on a strategic framework, this paper adds another dimension to this important and widely used framework, namely Vision, and elaborates on the critical role of vision and its relationship and impact on the remaining Vs. Research shows that vision has a positive impact on organizational performance. Organizations that link vision with strategic information systems, such as Big Data applications, ga5in a sustainable competitive advantage in the marketplace. The importance of carefully defining, establishing and communicating the vision of Big Data to the entire organization and to key stakeholders in order to leverage Big Data for growth, profits, and sustainable competitive advantage is discussed.