Crossroads between Big Data and entrepreneurship: current key trends

Abstract

Entrepreneurship is vital for economic growth and development, as it fosters innovation, creates jobs, and enhances competition and competitiveness. At the same time, in contemporary society, where the Internet has assumed the role of the primary instrument for both communication and commerce, effective utilisation of vast amounts of data has become imperative for businesses, especially in the entrepreneurial environment. To identify the main connections in two of the currently most trending concepts in business, we undertook a systematic literature review focusing on Big Data, entrepreneurship, and their interconnections in business management through 301 research documents. While numerous studies have already delved individually into Big Data and entrepreneurship, the interconnection between these concepts still has research potential. Our results reflect a growing interest in leading research on these topics, with specific leading authors and countries. Furthermore, we show and discuss a conceptual map consisting of five clusters, unveiling interesting connections such as the impact of blockchain on firms, the correlation between Big Data and firm performance, the role of data science, and the significance of Big Data analytics for operational performance. The article ends by examining how Big Data and entrepreneurship change the business landscape. While entrepreneurs use data for decision-making, innovation, and tailored customer experiences, there are lingering concerns such as data security and privacy. The future of business and innovation will depend, in part, on the crossroads between entrepreneurs and Big Data technologies.