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What is Disruptive Innovation (DI)

Chapter 17
Handbook of Research on Driving Competitive Advantage through Sustainable, Lean, and Disruptive Innovation
A process where a product or service that initially enters a new market or starts at the bottom of an existing market, and then moves up market displacing existing competition.
Published in Chapter:
Data Science and Big Data Analytics in Financial Services: A Case Study
Suren Behari (University of Southern Queensland, Australia), Aileen Cater-Steel (University of Southern Queensland, Australia), and Jeffrey Soar (University of Southern Queensland, Australia)
Copyright: © 2016 |Pages: 28
DOI: 10.4018/978-1-5225-0135-0.ch017
Abstract
The chapter discusses how Financial Services organizations can take advantage of Big Data analysis for disruptive innovation through examination of a case study in the financial services industry. Popular tools for Big Data Analysis are discussed and the challenges of big data are explored as well as how these challenges can be met. The work of Hayes-Roth in Valued Information at the Right Time (VIRT) and how it applies to the case study is examined. Boyd's model of Observe, Orient, Decide, and Act (OODA) is explained in relation to disruptive innovation in financial services. Future trends in big data analysis in the financial services domain are explored.
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