Sharing Economy and Big Data Analytics

8Big Data Analytics Applied to the Sharing Economy

Things only get done if the data we gather can inform and inspire those in a position to make a difference.

Mike Schmoker

8.1. Introduction

The effectiveness of an approach based on the analysis of large data-sets must be evaluated based on the reason for its use (the why?). The biggest question for Big Data, as with any major innovation, lies in the value that this phenomenon is likely to generate (the what?) and in its implementation (how? and for whom?).

If we cannot identify ways to understand this approach (how?) and its benefits (for whom?), it will be difficult to understand the importance of Big Data analytics for the sharing economy, who should make it happen, and why it is so important.

There was a time when Big Data was considered a buzzword that appeared on the covers of many books, magazines, reports, special issues of journals, and conferences throughout the world, as if to signal an increased need for processing and analyzing growing volumes of data.

For 10 years or more, the scientific community has not stopped analyzing the deluge of data and exploring its business value, while discussing its various opportunities and challenges. A number of companies have understood its importance and are committed to the exploitation of its potential, like the pioneers who showed the way to effectively use Big Data and Analytics. But these uses are not restricted to these companies, and it would be an error to think that ...