Transparency and Enhanced Efficiency and Accountability Due to Big Data Adoption in Government Agencies and Other Enterprises

Transparency and Enhanced Efficiency and Accountability Due to Big Data Adoption in Government Agencies and Other Enterprises

Dhiraj Jain (Symbiosis Centre for Management Studies- Symbiosis International University, India) and Yuvraj Sharma (Cognus Technology Ltd., India)
Copyright: © 2016 |Pages: 21
DOI: 10.4018/978-1-4666-9649-5.ch003
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Abstract

Pertinence of big data is necessary especially in the field of corporate governance where large amount of data is collected, stored, retrieved and manages. The major challenge arises for the government organizations therefore are how to use the breadth and depth of the large amount of available data in an appropriate manner. The purpose of the study was to find out the relevance of Big Data in corporate governance and investigates about the role and reasons behind adopting this technique in various government schemes. The data was collected from the 393 respondents of IT companies through a pre-tested and a structured questionnaire. Thematic analysis, descriptive statistics and factor analysis were used to explain the factors needed to identify transparency and enhanced efficiency & accountability by big data adoption. It was found there were an explosion of big data in the corporate governance and various activities of the government which could be highly relevant.
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Introduction

According to IBM, Big data is a broad term for data sets which contains data from everywhere such as posts to social media sites, digital pictures, sensors used to gather climate information and videos and purchase transaction records etc. While Big Data Analytics s the process of examining and analyzing the large amount of data and getting useful information that can be used to make better decisions. In order to carry out the research, particular IT industry and employees of various IT companies have been targeted because they were aware about the role and benefits of Big Data so that they can provide better information regarding to implementation of this technology in various functions of government and companies as well. The present study tries to find out the relevancy of Big Data technology in day to day operations of government agencies and companies (Johnstone, 2004). In order to better understand the concept and roles of this technology various examples have been taken. The rationale behind to selecting these two topics was to understand the benefits of Big Data in overcome various issues faced by government and other enterprises due to inadequate and absence of centralize system. In addition, present research emphasizes on the various tangible benefits such as enhanced corporate reporting, centralize storage of people data, improved governance procedure and their limitations, increasing transparency in their functioning and disclosure of information in an appropriate manner etc. Besides that, report tries to establish relation between Big Data technologies and corporate governance and role of this technology in performing various functions of government agencies in a quick manner.

Concept of Corporate Governance and Big Data

Corporate governance is considered a joint effort of all the concern parties including stakeholders, government, general public, professional, service providers and corporate bodies. Often organizations tend to globalize their business while at the same time intends survive and better compete with their competitor (Robinson, 2005). After the Big corporate scandals, engulfing the corporate world, corporate governance has become central to most of the companies. So that the investors and concerned people have started demanding organizations to implement rigorous corporate governance practices in order to achieve better return on their investment with increasing transparency and reduces cost. (IDC’s, 2010) Suggested Big Data technologies as a new generation of technologies and architectures designed to economically extract value from large volumes of a wide variety of data by enabling high-velocity capture, discovery, and/or analysis. A series of Vs described the dimensions of big data and their linked with corporate governance activities (Desouza, 2014) like

  • Volume: According to survey report of IBM, each day, 2.5 quintillion bytes of data are created and it can be said that size is indeed one important dimension that affects processing techniques and working of enterprises. Government agencies and corporate enterprises like, telecom providers can use Big Data technology for different purposes such as billing, monthly processing cycle and performing audit or legal action within stipulated time (Tallon, 2013).

  • Variety: In digital era, varieties of information are present in many forms such as usage of text, video, images, tweets, apps, online collaboration, and social media etc. With help of Big Data technology, firms can access behaviour, preferences, and interests related information about their customers to derive new insights.

  • Velocity: Due to rate of generated and consumed information and processing of information flowing at a rapid rate features of Big Data, enterprises could be able to automating the collection and analysis of customers and employees data in order to reduce fraud and inadequacy (Usha,2013). While on the other side, Volatility and Viscosity characteristics of Big Data would be beneficial for companies in terms of overcome resistance to flow of data and data storage in a safe and secure manner.

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