Valuation of big data analytics quality and competitive advantage with strategic alignment model: from Greek philosophy to contemporary conceptualization

Petros Theodorou; Theodoros Theodorou; Petros Theodorou; Theodoros Theodorou

doi:10.3934/DSFE.2024002

Data Science in Finance and Economics

2024, Volume 4, Issue 1: 53-64. doi: 10.3934/DSFE.2024002

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Research article

Valuation of big data analytics quality and competitive advantage with strategic alignment model: from Greek philosophy to contemporary conceptualization

Petros Theodorou ^{1,2
,
, ,},
Theodoros Theodorou ³

1.
Athens University of Economics and Business, 76 Patission Str., Athens, Greece
2.
Public Power Corporation, 22 Chalkokondyli Str., Athens, Greece
3.
National and Kapodistrian University of Athens, School of Philosophy, Department of History and Archaeology, University Campus 157 84, Athens, Greece

Received: 21 November 2023 Revised: 16 January 2024 Accepted: 19 January 2024 Published: 31 January 2024
JEL Codes: G10, G11, L15, M15, M20, N00

Around 333BC, Diogenes Laertius cited (Greek quote): "οὐκ ἐν τῷ μεγάλῳ τὸ εὖ…, ἀλλ᾿ ἐν τῷ εὖ τὸ μέγα", which means that volume (big data: tera, peta, velocity and variety) doesn't guarantee quality. Furthermore, Protagoras's doctrine about homo mensura and the Socratic Maieutic method evidences demonstrated the way that queries (SQL) on big data can play on specific needs when crafted, such as turning big data into knowledge and a competitive advantage. In this research, an alternative to the data-driven approach will be propounded with the development of the strategic alignment model (SAM) based on the principles of Greek philosophy. The SAM model will support decisions of big data analytics structure with strategies to fit and align in a way to create a competitive advantage. Mathematical formulation of the model will help to optimize a competitive advantage through the economic value added (EVA) to guide the proper strategy and big data analytics structure in a holistic framework. Conclusions will be drawn on how strategy and the structure of big data analytics can be aligned.
- big data analytics,
- strategic alignment model,
- competitive advantage,
- greek philosophy,
- Plato,
- socratic maieutic,
- economic value added (EVA),
- optimization,
- strategy,
- structure
Citation: Petros Theodorou, Theodoros Theodorou. Valuation of big data analytics quality and competitive advantage with strategic alignment model: from Greek philosophy to contemporary conceptualization[J]. Data Science in Finance and Economics, 2024, 4(1): 53-64. doi: 10.3934/DSFE.2024002

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Abstract

Around 333BC, Diogenes Laertius cited (Greek quote): "οὐκ ἐν τῷ μεγάλῳ τὸ εὖ…, ἀλλ᾿ ἐν τῷ εὖ τὸ μέγα", which means that volume (big data: tera, peta, velocity and variety) doesn't guarantee quality. Furthermore, Protagoras's doctrine about homo mensura and the Socratic Maieutic method evidences demonstrated the way that queries (SQL) on big data can play on specific needs when crafted, such as turning big data into knowledge and a competitive advantage. In this research, an alternative to the data-driven approach will be propounded with the development of the strategic alignment model (SAM) based on the principles of Greek philosophy. The SAM model will support decisions of big data analytics structure with strategies to fit and align in a way to create a competitive advantage. Mathematical formulation of the model will help to optimize a competitive advantage through the economic value added (EVA) to guide the proper strategy and big data analytics structure in a holistic framework. Conclusions will be drawn on how strategy and the structure of big data analytics can be aligned.

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