Factors Affecting the Intention to Adopt Big Data Technology : A Study Based on Financial Services Industry of Sri Lanka

Abstract

The term “Big data” has gained huge popularity in recent years and it is rapidly becoming a new technology trend and a major strategic weapon for business organizations seeking to gain a competitive advantage. The main objectives of this research study are to identify the factors determining the intention to adopt big data technology in financial services industry of Sri Lanka and to investigate the nature of relationship between those factors and the intention to adopt big data technology. In order to reach these objectives, a structured questionnaire survey was carried out to collect data from 30 licensed finance companies in Sri Lanka. The data were analyzed by using multivariate quantitative techniques through descriptive and inferential statistical methods. The empirical findings reveal that there is a significant positive association among compatibility, relative advantage, technological resource competency, organizational size, absorptive capacity, competition intensity, regulatory support and organizational intention for big data technology adoption. However, complexity and environmental uncertainty have a significant negative relationship with the same. These findings will have various implications including theoretical and policy implications.