Business & IT · Vol. XIV(2) · 2024
Institutional Competencies for Big Data Analytics in the South African Financial Sector
Abstract
The South African financial sector faces challenges with big data analytics (BDA), including understanding its role, the risk of replacing managerial decision-making and identifying necessary institutional competencies (ICs). Globally, BDA is crucial for performance and competitive advantage, emphasising management’s need to comprehend BDA and related ICs. Research with 10 senior management individuals highlighted five fundamental ICs for BDA implementation: leadership, business acumen, data science knowledge, new job roles and functional governance. The theoretical frameworks included resource-based theory, social cognitive theory and the diffusion of innovation theory. The findings stress the importance of enhanced leadership engagement, governance frameworks, business acumen and stronger data science roles alongside the development of new positions in BDA. Continuous development of suitable ICs is vital for improving organisational performance in the evolving BDA landscape.
Keywords
Big data analytics; Institutional competencies; Financial Sector South Africa, Generic qualitative research
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How to cite (APA)
Moruti Dunstun Langa, Clive Smith (2024). Institutional Competencies for Big Data Analytics in the South African Financial Sector. Business & IT, Vol. XIV(2), pp. 72–85. https://doi.org/10.14311/bit.2024.02.08