Eco-Innovation and Industry 4.0: A Big Data Usage conceptual model

Department of Management and Humanities, Universiti Teknologi PETRONAS, 32610 Seri Iskandar, Perak Darul Ridzuan, Malaysia

^* Corresponding author: russell_17003483@utp.edu.my

Abstract

Driven by Cyber Physical Systems, Big Data Analytics, Internet of Things and Automation, Industry 4.0 is expected to revolutionize the world. A new era beckons for enterprises of all sizes, markets, governments, and the world at large as the digital economy fully takes off under Industry 4.0. The United Nations has also expressed its desire to usher in a new era for humanity with the Sustainable Development Goals 2030 (SDG’s) replacing the Millennial Development Goals (MDG’s). Critical to the achievement of both of the above-mentioned ambitions is the efficient and sustainable use of natural resources. Big Data Analytics, an important arm of Industry 4.0, gives organizations the ability to eco-innovate from a resource perspective. This paper conducts an analysis of previously published research literature and contributes to this emerging research area looking at Big Data Usage from a strategic and organizational perspective. A conceptual framework that can be utilized in future research is developed from the literature. Also discussed is the expected impact of Big Data Usage towards firm performance, particularly as the world becomes more concerned about the environment. Data driven eco-innovation should be in full motion if organizations are to remain relevant in tomorrow’s potentially ultra-competitive digital economy.