Strength in Numbers: How Does Data-Driven Decisionmaking Affect Firm Performance?

By Erik Brynjolfsson, Lorin M. Hitt, Heekyung Hellen Kim. 2011

681 citations recorded by the source corpus.

Subfields: Accounting, Management Information Systems, Strategy and Management

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Citations in the corpus

On the Safety of Machine Learning: Cyber-Physical Systems, Decision Sciences, and Data Products (2016, background): “Man y emerging application domains are now shifting to data-driv en decision making due to greater capture of information digit ally and the desire to be more scientific rather than relying on (fallible) gut instinct [22].”
Understanding the paradigm shift to computational social science in the presence of big data (2014, neutral): “[18] have pointed out that firms that emphasize decision-making based on business analytics have higher performance in productivity, asset utilization, return on equity and market value.”
Big Data for Development: A Review of Promises and Challenges (2016, positive): “Brynjolfsson, Hitt, and Kim (2011) found that U.S. firms that adopted Big Data Analytics have output and productivity that is 5 – 6 % higher than what would be expected given their other investments and information technology usage.”
Customer information resources advantage, marketing strategy and business performance: A market resources based view (2020, background): “…decision-making culture (the extent to which a firm's decisions are based on data and analysis versus experience and intuition) of 179 large firms, Brynjolfsson, Hitt, and Kim (2011) report that firms that adopted “datadriven decision-making” achieved productivity that was five to 6% higher than…”
The Rapid Adoption of Data-Driven Decision-Making (2016, background): “Some econometric evidence also links DDD with superior performance in a modest sample of large public firms (Brynjolfsson, Hitt, and Kim 2011).”
Explaining machine learning models in sales predictions (2017, background): “In the use of data-driven decision-making, companies in the top third of their industry are, on average, 5% more productive and 6% more proﬁtable than their competitors (McAfee and Brynjolfsson, 2012; Brynjolfsson et al., 2011).”
Big Data Investment, Skills, and Firm Value (2014, positive): “First, they contribute to an emerging literature on the value of modern data analytic technologies (Brynjolfsson, Hitt, and Kim 2011; Barua, Mani, and Mukherjee 2012).”