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Big Data for Entrepreneurship and Sustainable

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Wissem Ajili Ben Youssef U■ur Özgöker Imen Ben Slimene
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Big Data for Entrepreneurship
and Sustainable Development
Big Data for Industry 4.0: Challenges and Applications
Series Editors: Sandhya Makkar, K. Martin Sagayam,
and Rohail Hassan
Industry 4.0 or fourth industrial revolution refers to interconnectivity, automation

and real time data exchange between machines and processes. There is a tremen-
dous growth in big data from internet of things (IoT) and information services which
drives the industry to develop new models and distributed tools to handle big data.
Cutting-edge digital technologies are being harnessed to optimize and automate
production including upstream supply-chain processes, warehouse management sys-
tems, automated guided vehicles, drones etc. The ultimate goal of industry 4.0 is to
drive manufacturing or services in a progressive way to be faster, effective and effi-
cient that can only be achieved by embedding modern day technology in machines,
components, and parts that will transmit real-time data to networked IT systems.
These, in turn, apply advanced soft computing paradigms such as machine learning
algorithms to run the process automatically without any manual operations.
The new book series will provide readers with an overview of the state-of-the-art
in the field of Industry 4.0 and related research advancements. The respective books
will identify and discuss new dimensions of both risk factors and success factors,
along with performance metrics that can be employed in future research work. The
series will also discuss a number of real-time issues, problems and applications with
corresponding solutions and suggestions. Sharing new theoretical findings, tools and
techniques for Industry 4.0, and covering both theoretical and application-oriented
approaches. The book series will offer a valuable asset for newcomers to the field and
practicing professionals alike. The focus is to collate the recent advances in the field,
so that undergraduate and postgraduate students, researchers, academicians, and
Industry people can easily understand the implications and applications of the field.
Entrepreneurship and Big Data

The Digital Revolution
Edited by Meghna Chhabra, Rohail Hassan, and Amjad Shamim
Microgrids
Design, Challenges, and Prospects
Edited by Ghous Bakhsh, Biswa Ranjan Acharya, Ranjit Singh Sarban Singh, and
Fatma Newagy
For more information on this series, please visit: https://www.routledge.com/

Big-Data-for-Industry-4.0-Challenges-and-Applications/book-series/CRCBDICA
Big Data for Entrepreneurship
and Sustainable Development
Edited by
Wissem Ajili-Ben Youssef
Uğur Özgöker
Imen Ben Slimene
First edition published 2022
by CRC Press
6000 Broken Sound Parkway NW, Suite 300, Boca Raton, FL 33487-2742
and by CRC Press

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Özgöker, and Imen Ben Slimene; individual chapters, the contributors
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Library of Congress Cataloging‑in‑Publication Data
Names: Abdelli, Mohammed El Amine, editor.

Title: Big data for entrepreneurship and sustainable development / edited by Mohammed
El Amine Abdelli [and three others].
Description: First edition. | Boca Raton : CRC Press, 2022. | Series: Big data for industry
4.0: challenges and applications | Includes bibliographical references and index.
Identifiers: LCCN 2021016367 (print) | LCCN 2021016368 (ebook) |
ISBN 9780367546632 (hardback) | ISBN 9780367546649 (paperback) |
ISBN 9781003090045 (ebook)
Subjects: LCSH: Entrepreneurship–Statistical methods. | Sustainable development–
Statistical methods. | Big data.
Classification: LCC HB615 .B54 2022 (print) | LCC HB615 (ebook) |
DDC 338/.040727–dc23
LC record available at https://lccn.loc.gov/2021016367
LC ebook record available at https://lccn.loc.gov/2021016368
ISBN: 978-0-367-54663-2 (hbk)

ISBN: 978-0-367-54664-9 (pbk)
ISBN: 978-1-003-09004-5 (ebk)
DOI: 10.1201/9781003090045
Typeset in Times LT Std

by KnowledgeWorks Global Ltd.
To my mother, father, sisters, and my brother, to Grandmothers
Safia and Mira, and to all my family, my friends and colleagues.

Contents
Foreword....................................................................................................................ix
Preface.......................................................................................................................xi
Contributors ........................................................................................................... xiii
Editor Biographies.................................................................................................. xv
Chapter 1 Entrepreneurship and Social Innovation in Big Data

Era: A Particular Focus on the Internet of Things................................ 1
Hassan Ayoub, Nathalie Achkouty
Chapter 2 Big Data for Entrepreneurship Towards CSR and Sustainable

Development........................................................................................ 21
Hamid Doost Mohammadian, Fatemeh Rezaie
Chapter 3 Finance, Digital Disruption, and Sustainability: Issues,

Challenges, and Future Directions...................................................... 49
Wissem Ajili-Ben Youssef, Imen Ben Slimene
Chapter 4 Disruptive Financial Innovation and Big Data Implications

in Digital Finance................................................................................ 69
Murat Akkaya
Chapter 5 Cybersecurity Aids Financial Institutions Performance..................... 91

Abdalmuttaleb Al-Sartawi, Anjum Razzaque,
and Magdalena Karolak
Chapter 6 Sustainability-Oriented Cost Management Tools and Big

Data Analytics: An Organizing Framework for Enhancing
Sustainable Decision Making............................................................ 105
Mohamed Abdelmounem Serag
Chapter 7 Industry 4.0 and Digital Supply-Chain Management:

ERP-SCM Implementation............................................................... 131
Imen Ben Slimene, Wissem Ajili-Ben Youssef
vii
viii Contents
Chapter 8 New Forms of Effective Collaboration: How to Enhance Big

Data for Innovative Ideas in the Online Environment ..................... 151
Olga A. Shvetsova
Chapter 9 Rethinking Tourism Entrepreneurship Amidst COVID-19

Through the Lens of Artificial Intelligence and Big
Data Analytics................................................................................... 175
Anjum Razzaque, Abdulmuttaleb M.A. Musleh Al-Sartawi,
and Magdalena Karolak
Chapter 10 The New Trends Technology of Entrepreneurship in the

Incubators: A Case Study of Cyberpark Sidi Abdallah.................... 189
Zina Arabeche, Mohammed El Amine Abdelli
Index.......................................................................................................................205
Foreword
It is a great pleasure for me to prepare this foreword for Big Data for
Entrepreneurship and Sustainable Development by this distinguished group of
professors from across Europe. As a professor of entrepreneurship for close to four
decades, it is wonderful to see a direct focus on the role that big data plays on sus-
tainable development in the world’s economies, leading to the conclusion that entre-
preneurship is an essential and important element in moving the wheel of economic
growth for countries.
The authors, through extensive research, present several observations, reflections,
and conclusions through a variety of contributions on the role of big data for the field
of emerging entrepreneurship and sustainable development.
The book is based on research, observations, and experiences and provides impor-
tant insights to professors, researchers, and entrepreneurs alike.
I highly recommend adding this book to your collection of important works in the
field of entrepreneurship and sustainable development.
Sincerely,
Timothy S. Mescon
Executive Vice President and Chief Officer,
AACSB International
Europe, Middle East, and Africa
ix
Preface
Big data plays an essential factor in the wheel of sustainable development in the
world’s economies, so that the entrepreneur is an essential and important element
in moving the wheel of economic growth for countries. Big data has been receiving
great attention in a variety of research and application fields such as entrepreneur-
ship and sustainable development over the last ten years. Many entrepreneurs in
countries receive very large loans, contributing to creating wealth and developing
industrial and economic sectors for countries. Still, they are exposed to problems
that hinder their business development, maybe legal legislation or financial and eco-
nomic policies, or maybe due to their personality. Here we present some reflections
and a collection in our book on big data’s role for this emerging entrepreneurship and
sustainable development.
Editors
Wissem Ajili-Ben Youssef
Uğur Özgöker
Imen Ben Slimene
xi
Contributors
Mohammed El Amine Abdelli Hamid Doost Mohammadian
University of Western Brittany (UBO), University of Applied Sciences (FHM),
France Germany
Nathalie Achkouty Anjum Razzaque

Lebanese University, Lebanon Ahlia University, Bahrain
Murat Akkaya Fatemeh Rezaie

Istanbul Arel University, Turkey Lyon University, France; IMI, Iran
Abdalmuttaleb Al-Sartawi Mohamed Abdelmounem Serag

Ahlia University, Bahrain King Khalid University, Kingdom of
Saudi Arabia (KSA)
Zina Arabeche
Ahmed Zabana University of Relizane, Olga A. Shvetsova
Algeria Korea University of Technology and
Education, Republic of Korea
Hassan Ayoub
Lebanese University, Lebanon Imen Ben Slimene
University of Upper Alsace, France
Magdalena Karolak
Zayed University, United Arab Wissem Ajili-Ben Youssef
Emirates Paris Business School, France
xiii
Editor Biographies
Mohammed El Amine Abdelli is a Researcher at the
University of Western Brittany and the Technical University of
Cartagena. He is a member at Western Economics and
Management Laboratory LEGO and an Researcher at the
University of Salamanca (Spain). El Amine’s research inter-
ests focus on big data, entrepreneurship, governance, innova-
tion, and sustainable development. He is an editor of several
books. He was a guest editor of 11 high-quality journals
(Scopus) and has published 15 papers between chapters and
articles. He is an invited speaker in international universities
and an academic member of a committee member of several international. He is an
editorial board member of over 20 indexed journals (Scopus).
Wissem Ajili‑Ben Youssef is an Assistant Professor in

Economics and International Finance at the ESLSCA Paris
Business School (France). Wissem Ajili’s main research
interests are the political economy of sovereign debt and
international crisis management: economic and institutional
approaches for public debt management, sovereign debt
default, sovereign debt auditing, public debt viability, and the
new approaches for sovereign debt management, mainly social
and environmental sustainability. She is also interested in risk
management, emerging risks (cyber-risk & climatic risk), derivatives (insurance-
linked securities), digital disruptions in finance (fintech, blockchain, cryptocurren-
cies.), and Islamic finance.
Wissem Ajili is a member of the scientific board of the Journal of Entrepreneurship
Education, a reviewer in the African Development Review, in the Business and
Management Research Journal, and the Net Journal of Business Management.
Dr. Ajili has presented her research findings in many international conferences such
as the American Association’s Annual Meeting and the Canadian Economics
Association’s Annual Meeting.
Uğur Özgöker, Former Rector, the American University of

Cyprus Özgöker served as Manager of Kadir Has University’s
Rectorate European Union Research and Application Center,
Head of Social Sciences Institute International Relations and
Globalization Master Program, Board Member of the Faculty
of Law and Faculty Member of the International Relations
department of the Faculty of Economics and Administrative
Sciences. Furthermore, he assumed the Turkey Co-coordinator
duty of the joint Executive MBA Program between Fordham University in New York
and Kadir Has University. Özgöker worked as Board Member of the Faculty of
xv
xvi Editor Biographies
Business Administration and Economics, International Relations Department Head

and Lecturer of Political Science and Public Administration at Girne American
University between 2010 and 2011. He has been appointed as the RECTOR and
Member of the Board of Trustees at the American University of Cyprus, effective
from 2018. Besides being Rector, he is the Dean of Law Faculty and Head of IR
Department at the Political Sciences Faculty of the American University of Cyprus.
Özgöker also served as the editor of 55 books. He presented several papers in local
and international academic meetings and published several academic articles. He
currently works as Head of International Relations Department, Director of
International Office and ERASMUS Institutional Coordinator of Istanbul Arel
University, and Full Profesor of National Defence University.
Imen Ben Slimene is an Assistant Professor in Finance

and Accounting at the Upper-Alsace University-UHA
(France). She is currently Head of the International Business
Management program at the Upper-Alsace University,
Duale Hochschule Baden-Württemberg Lörrach—DHBW
(Germany) and the Fachhochschule Nordwestschweiz—
FHNW in Basel (Switzerland). She holds a PhD in Business
Administration (Accounting) from Grenoble Alps University.
Dr. Ben Slimene research interests are in financial reporting,
corporate governance, and audit regulation. She is particu-
larly interested in how economic, behavioral, regulatory, and political factors affect
management decision-making processes. Her research has been funded by the order
of the Accountant, the French National Association of Chartered Accountants, and
the Francophone Association of Accounting. She is also interested in risk manage-
ment, digital disruptions in accounting and finance (fintech, blockchain, crypto-
currencies), and Islamic finance. Imen Ben Slimene is a member of the scientific
board of the Journal of Entrepreneurship Education, a reviewer in many journals.
Dr. Ben Slimene’s research findings have been presented at numerous conferences
such as the European Accounting Association conference, the American Accounting
Association conference, and the European Auditing Research Network.
1 Entrepreneurship
and Social Innovation
in Big Data Era
A Particular Focus on
the Internet of Things
Hassan Ayoub, Nathalie Achkouty
Lebanese University, Lebanon
CONTENTS
1.1 Introduction....................................................................................................... 2
1.2 Big Data............................................................................................................. 3
1.2.1 History of Big Data and Background Behind It: Data Era.................... 3
1.2.1.1 First Industrial Revolution......................................................3
1.2.1.2 Second Industrial Revolution..................................................4
1.2.1.3 Third Industrial Revolution.................................................... 4
1.2.1.4 Fourth Industrial Revolution...................................................4
1.2.2 Data Era and Technologies.................................................................... 5
1.2.3 What Can Big Data Solve......................................................................5
1.2.3.1 Availability and Capability..................................................... 6
1.2.4 Successful Stories.................................................................................. 6
1.2.5 Internet of Events................................................................................... 7
1.2.6 The Four Vs and Challenges of Big Data.............................................. 8
1.3 Big Data, Entrepreneurs, and Innovation..........................................................9
1.3.1 Importance of Entrepreneurship and Sustainability.............................. 9
1.3.1.1 Sustainability........................................................................ 10
1.3.1.2 Sustainability and Entrepreneurs.......................................... 11
1.3.2 Importance of Innovation.................................................................... 11
1.3.3 Entrepreneurship, a Path of Innovation in Big Data Era..................... 12
1.3.3.1 The New Entrepreneurial Context........................................ 12
1.3.3.2 Opportunities........................................................................ 13
1.3.3.3 Big Data and Open Innovation............................................. 13
1.3.3.4 The Use of Big Data for Social Innovation........................... 14
1.4 Internet of Things............................................................................................ 15
1.4.1 What is IoT?......................................................................................... 15
1.4.2 Opportunities to Innovate with IoT..................................................... 16
DOI: 10.1201/9781003090045-1 1
2 Big Data for Entrepreneurship and Sustainable Development
1.4.2.1 Business Innovation Framework........................................... 16

1.4.2.2 Foundational Capability........................................................ 16
1.4.2.3 IoT Business Innovation Model; Orchestrating Value
Networks............................................................................... 16
1.4.3 IoT for an Enriched World................................................................... 17
1.5 Conclusion....................................................................................................... 17
Notes......................................................................................................................... 18
References................................................................................................................. 18
1.1 INTRODUCTION
An equilibrium between short-term benefits and long-term financial, social, and
environmental sustainability is essential for success in the entrepreneurial path now-
adays. Entrepreneurs need viable initiatives to maintain this balance. The need for
entrepreneurs combining sustainability and business is increasingly growing, mak-
ing them conscious of the UN’s sustainable development goals announced in 2015.
Entrepreneurs’ initiatives need to be sustainable yet stay competitive in a dynamic
environment, hence linking entrepreneurs and sustainability. However, it is not an
easy task; as Kofi Annan once said, “Our biggest challenge in this new century is
to take an idea that sounds abstract sustainable development and turn it into reality
for all the world’s people.” Therefore, the value should be shared between compa-
nies and businesses and the regions these are operating in. To meet the social and
environmental needs cost-effectively, a growing number of initiatives included the
“shared value concept” in their formulation of new products and services through
different strategies. The volume of data received daily has reached up to tens of mil-
lions of records or more. A vast number of data is captured, from music recommen-
dation to Siri conversations and so forth; more and more data is being generated. The
rate of collecting data from a wide variety of sources by modern computer systems
is unimaginable.
This chapter examines entrepreneurship and sustainability concerning the big-
data era. Big data has had a significant impact on society, permitting entrepreneurs
to contribute to social change, participate in sustainability, and innovate. Big data
can improve the world ever since it has been a significant part of a study related to
entrepreneurship, innovation, and sustainability.
The first part will tackle the subject of big data. To better understand this con-
cept, it is essential to study the history and background of these phenomena, the link
between technologies and big data, the Internet of Events, the 4Vs and the challenges
of big data, and how big data can solve problems using successful stories.
The second part will discuss a vital domain, entrepreneurship, covering who
entrepreneurs are, how they are related to sustainable development, innovation, and
how entrepreneurship can be a path for innovation and sustainability in the data era.
The last part introduces and defines the Internet of Things (IoT), a game-changer
of a business’s overall ecosystem transformation according to JOER Grafe, a senior
market analyst at IBM, which enlightens the opportunities to innovate with IoT when
it is used to improve the world.
Entrepreneurship and Social Innovation 3
1.2 BIG DATA

Big data processes the possibility of changing how an entrepreneur or stakeholder
makes a decision and develops social innovation and social change of a social eco-
system. What is big data, and what is its background?
1.2.1 History of Big Data and Background Behind It: Data Era
The four industrial revolutions summarize the history and background of big data.
1.2.1.1 First Industrial Revolution

Europe and the United States transitioned to the new manufacturing processes;
machines replaced hand-production methods. It was the upswing of the new mecha-
nized factory system; this led to the first industrial revolution (see Figure 1.1). The
use of steam power1 and waterpower was the trigger element. The textile was a
supreme industry. In 2014, Beckert stated that there were 50,000 spindles in Britain
(1788), reaching 7 million over the next 30 years. In 1831, the share of value related
to the cotton textile industry in Britain was 22.4%.
One of the consequences of the first industrial revolution was population growth
and urbanization. The first industrial revolution caused developed countries to mud-
dle through modern economic growth and mirrored industrialization of third-world
countries, being a real turning point for world economic development.
FIGURE 1.1 The Industrial Revolution Source: (see Shank, P., 2025: How Will We Work?
How Will Your Job Change? 2016, ATD)
1.2.1.2 Second Industrial Revolution

The second industrial revolution was also known as the technological revolution, and
industrialization was a key element during this revolution. As [1] classified it, the
period between 1859 and 1873 was the most fruitful and dense in innovation history
ever knew.
In the twentieth century, electrification was listed by the National Academy of
Engineering as the ultimate engineering accomplishment.2 Other industries were
considered the most important, such as gas, water supply, and telegraph. The second
industrial revolution led to urbanization and the mass movement of people to cities.
As a result, by the nineteenth century, 40% of the US population occupied the cities,
in contrast with the eighteenth century, where it only reached 6%.
1.2.1.3 Third Industrial Revolution

The digital revolution or the Internet revolution was also known as the movement
from analog to digital technologies. Supply chains became global, and automation
of production took place due to this industrial revolution. As [2] stated: “The Third
Industrial Revolution is an insider’s account of the next great economic era, including
a look into the personalities and players—head of state, global CEOs, social entre-
preneurs and NGOs—who are pioneering its implementation around the world.”
1.2.1.4 Fourth Industrial Revolution

During the 2016 Davos Forum, the fourth industrial revolution was categorized by
Klaus Schwab [3], the World Economic Forum (WEF), as a disruptive innovation
known for replacing models and values with entirely new ones.
The comparison between the third and the fourth revolutions can conclude
that the third industrial revolution was the digital and Internet era (automation).
In opposition, the fourth industrial revolution is more a data era, the Artificial
Intelligence era.
World-renowned economist and founder and executive chair of the World
Economic Forum, [3], proposed that the fourth industrial revolution will alter how
we live and how we work, and that there is a possibility to shape that revolution.
In summation of all four revolutions: the first revolution started with the steam
engine followed by mechanization, where countries surpassed other countries when
adopting automation. The second one started with electricity and mass production
prevailing everywhere. In the 1970s, computer technologies were combined with
traditional manufacturing processes, which led to efficiency gain. During the third
revolution, IT innovation and digital transformation reduced costs, improved effi-
ciency, and spurred innovative ideas in the data era. Dickens clarified that concerns
related to managing costs decreased. Many executives applied IT innovation in their
organizations to improve effectiveness and innovative convenience. The combina-
tion between the digital world and the physical one we see currently results from the
fourth revolution. New systems are emerging, changing our environment and lives.
Big data led to a new digital philosophy, consisting of large volumes of data col-
lected, high velocity of updates done quickly and frequently, and a wide variety of
different formats and contents, reflecting a new mechanism of doing business across
all functions.
FIGURE 1.2 Big Data and Technologies
1.2.2 Data Era and Technologies

Exploring and experimenting with data in ways that have not been possible or practi-
cal a few years ago is probable these days due to new technologies, rapidly devel-
oping, that have dramatically reduced dataprocessing time [5]. Big data made it
convenient for everyone to upload, retrieve, store, collect, and access information
online (see Figure 1.2).
A vast bulk of data is being created every second; big transformative technologies
make modern life aspects digitized. Every kind of technology uses big data cloud
computing, smartphones, unscrewed cars, robots, drones, and even IoT.
It is promised that answers to fundamental questions of businesses, governments,
and social science are in these data of the big data revolution. However, it calls for
thoughtful measurement [6], creative deployment of statistical techniques, and care-
ful research design to analyze big data.
Big data is believed to be an essential concept discussed by researchers, who are
certain that it provides vast information. But how is this information processed, and
what can be done with all this information? What can big data solve, and how can
businesses take advantage of this data?
1.2.3 What Can Big Data Solve

Big data can help companies satisfy clients by identifying their needs, suggesting
desirable services to customers in the right way and at the right time. It is unlikely
to find in our days a business company with no data storage. The challenges of big
data actuality appear for companies, entrepreneurs, and innovators. Businesses and
well-established companies face challenging existing modes concerning big data
FIGURE 1.3 Big Data and Decisions
and business analytics. Organizations cannot entirely understand how to grasp these
technological innovations and what change is needed, and what business shifts they
require to partake in business and societal transformation. The main goal is to turn
data into value.
Decisions within organizations can be made with different methodologies (see
Figure 1.3). But then again, all these methods revolve around the amount of informa-
tion on hand; when organizations understand the importance and the use of big data,
they can perform better and improve their business.
Exploring and investing in big data initiatives is crucial for businesses. The big
data market has reached $47.5 billion in 2017. The need for significant data skills in
organizations will likely increase in the future; research showed that 89% of employ-
ers believed so [7].
Big data can streamline processes, and many compare it to the fuel of current and
future decision-making in the organization. The comparison is in place since better
decisions can help do better than competitors, encourage innovation, attract and keep
clients, and solve various tasks.
1.2.3.1 Availability and Capability

Before the 1980s, the amount of data collected by computers was more considerable
than the ability to analyze it, such as database management systems’ ease of access,
answer simple aggregation queries. In the late 1990s, the gap between data avail-
ability and data analytical capability became larger because data volume started
accumulating. Notice that the data is becoming big.
Between the years 2000 and 2010, methods have been developing to increase the
capability to analyze the volume of data generated. Analytical tools and databases
now handle big data. This requires big data analysis in search of just the right cus-
tomer segment, churn profile, or high operational cost. Many users created or hand-
coded complex SQLs as a replacement for using mining and statistical tools.
1.2.4 Successful Stories
Data companies have changed the global economy’s face in just a few years through
their data-driven services, such as Facebook, Airbnb, Alibaba, Uber, Tesla, and
many more. Impressive as it may seem, some of these companies do not possess
any of what they provide; Facebook owns no content yet is the world’s most popular
media vendor; Airbnb owns no real estate, but until now is the largest accommoda-
tion provider; Alibaba holds no inventory yet is the most valuable retailer worldwide;
and Uber owns no vehicles, but so far is the largest taxi/shared ride company.
Netflix is considered a good example to present a successful story for big data and
data science. According to [8], Netflix has messed up the prevailing marketplaces
and created cash streams at other similar businesses’ expenditure. The Netflix busi-
ness model depends on customer subscription, where data scientists can build mod-
els to envisage the “perfect situation” in which customers can receive suggestions of
programs they will enjoy. This is all due to different data points such as user gender
and age, time spent selecting movies, time, and date each content was watched, and
how often a movie or program is paused and resumed.
To formulate the list of suggestions, data scientists and engineers refer every user
to three or five clusters among more than 1300 collections based on their viewing
preferences. Data science techniques create specific category suggestions; every user
possesses different cover images for the same show. Netflix builds cover images
depending on the colors and styles of effective, parallel-tagged programs to help
draw new viewers’ attention. It also experiments with different versions of the cover
images to validate which ones are more effective.
Netflix could surpass the TV industry by using data science to provide users with
personalized content. Similar businesses exist and have similarly succeeded in many
fields.
Uber’s success is directly linked to the use of big data; its entire business model
highly depends on crowdsourcing, a big data principle. Uber is a smartphone
application-based taxi reservation service that fixes passengers with drivers. When a
user asks for a ride, Uber matches the passenger with the appropriate driver, know-
ing that it holds a vast database for drivers in the cities and countries it operates in.
GPS, street data, the company’s set of rules, and the journey’s time are all included
in calculating fares.
1.2.5 Internet of Events
As mentioned before, data growth has been incredible; from the time civilization
originated and until today, humankind has generated up to five exabytes of data,
speeding up the pace of producing five exabytes every two days (Eric Schmidt,
Executive Chair Google). What data is this, and what events are being generated?
Internet of Events is included in our daily activity, where we generate data through
four different sources.
Internet of Content, including big data, such as Wikipedia and Google, is the first
source of event data. The Internet of People, including any social events, such as
Twitter and Facebook, is listed as the second source. Two thousand sixteen statistics3
showed that an average of 600 million tweets were posted on Twitter daily, 1.6 bil-
lion active operators on Facebook created up to 600 terabytes of inbound data, and
52 million photos were uploaded on Instagram per day.
The third source of event data is the Internet of Things, referring to devices gen-
erating a vast quantity of data when connected to the Internet. The fourth and last
source is the Internet of Places.
An immense number of data is being collected from our daily lives, and the
growth of this amount is unbelievable. However, the challenge here is not how to
generate any additional data; it produces real value from such collected data [9].
1.2.6 The Four Vs and Challenges of Big Data

The large size and volume of data collections is the reason behind calling it big data.
It tends to reveal extraordinary diversity and velocity, which differentiates it from
traditional large data sets [10]. Hofmann [11] proposed that the Three Vs in data
management are the dimensions of challenges. The Three Vs; Volume, Variety and
Velocity, make up the big data description framework [12].
Therefore, Gartner company stated in 2001 three wells of the future big data
phenomena: Three Vs known as Volume, Variety, and Velocity (see Figure 1.4). A
different interpretation has extended this set with other Vs such as Veracity, Value,
Validity, to make the following list.
• Volume: This dimension is also called data at scale; terabytes, petabytes

and even exabytes of data are accumulated.
• Velocity: This dimension shows the aptitude to examine streams of data
continuously recorded and received to enable the decision within a frac-
tion of a second. Collecting data from various sources implies that the
system is always live and is continuously collecting data. Knowing the
speed at which data is being produced, spread and processed is referred
to as velocity [13].
FIGURE 1.4 4 Vs of Big Data, Source: Business Wire

• Variety: This dimension demonstrates how data can be shared and kept
in different forms, such as photos, videos, texts, or links posted on social
media.
• Veracity: This dimension refers to uncertainty, which is a challenge for big
data. Experience has clarified that it is not entirely reliable that what has
been recorded is completely precise. Most data sources are noisy, partly
untrustworthy, and some are even deceiving.
Challenges of Big Data: Complexity of data and difficulties in the process challenges
that big data face in its analysis processes can be linked to the data, framework,
cycle, or results.
The Complexity of Reality: The first challenge that big data faces start with any
understanding of reality. The assortment of raw data must be first understood and
transformed into meaningful information, using adequate tools to deal with this raw
data. It is essential to be attentive to this complexity to avoid such challenges.
Cognitive Bias: The second challenge reveals that data analysis is without doubt
subject to observing bias where reality will be interpreted and understood based on
the observer’s sensitivity or subjectivity.
Precision, wholeness, individuality, accessibility over time, and reliability of the
data itself make up the third challenge for big data relating to its quantity of the data.
1.3 BIG DATA, ENTREPRENEURS, AND INNOVATION

Dynamic and competitive economies call for two fundamental building blocks:
innovation and entrepreneurship. It is essential to know the definition and impor-
tance of innovation and entrepreneurship, and how entrepreneurs can use big data as
the power to support innovation and sustainability.
1.3.1 Importance of Entrepreneurship and Sustainability

Entrepreneurship [14] is a multi-discipline concept without a single agreed-upon
definition. The literature ensures that there is no unique definition of entrepreneurs
or entrepreneurship. A variety of hypothetical perceptions making up an interdisci-
plinary field of study guide other exploratory entrepreneurial phenomena.
The focus in definition was pointed directly at the risks and challenges of creat-
ing outputs, accompanied by many production factors. These outputs were made
available for sale in continuously varying markets. Innovation was included in
Schumpeter’s definition of entrepreneurship, who fortified that entrepreneurs’ first
role was to create and respond to any economic discontinuities. Other common char-
acteristics started popping out for entrepreneurs, such as the tendency for risk-taking
or need for realization, all related to personality traits and life experiences.
The absence of consistency in defining the term made research challenging. Many
researchers focused in their definition on the four paradigms [15].
Entrepreneurship, being the engine that drives the economy, affects economic
development, prosperity, and social change. [16] believed that the promotion of
entrepreneurship is essential for a healthy economy and is critical for sustaining
prosperity and creating new jobs. It is widely known that entrepreneurs consider
themselves as someone with an idea and not as a businessperson. Entrepreneurs not
only take their concept, nourish it, and perturb the surrounding ecosystem, but also
renew it.
Social environmental [17] and sustainable entrepreneurship [18] focus openly on
social, economic, and ecological outcomes. Creating sustainable innovation requires
repeatable, sustainable, and transferable plans that can share the way to drive this
innovation.
The sustainable development goals or the SDGs [19] are directly aimed at con-
tributing to fulfilling human rights to an unlimited extent, covering poverty, hunger,
health, gender, parity, education, global warming, environment, social justice and
other countless social and economic issues that define the world wide’s main con-
cerns for improvements towards a viable society.
1.3.1.1 Sustainability
Sustainable development has been a shared-out concept, which points out several
social revelations since the 1992 Earth Summit in Rio de Janeiro and Agenda 21.
Visions related to ideas about fairness, liberty, independence, and accountabil-
ity look to the future. Governments, non-governmental organizations, companies,
entrepreneurs, and innovators have all understood the relevance of sustainabil-
ity. The Brundtland Commission (World Commission on Environment and
Development [WCED], 198) defined sustainable development as “Development that
meets the needs of the present without compromising future generations’ ability to
meet their own needs.” An official United Nations report UNCHS of 1966 stated
that it is essential to have strategies that display sustainable development founda-
tions by achieving social equity, social integration, and social stability. Without a
doubt, our main concern, backed by the environmental movements, became the
first drive of the debate on sustainability and the necessary power behind it for
decades [20].
The United Nations has given scope for its 193 member countries to express
their views on the world’s challenges and a possibility to find an area of agreement
between communities and governments.4 Peace, human rights, sustainable develop-
ment, and health emergencies were the main goals to reach. The essential purpose of
Sustainable Development Goals (SDGs) is to achieve a better future for all genera-
tions. The SDGs focus on all the current global social, economic, environmental,
and governmental challenges.
Sustainable development links social, economic, and environmental dimensions:
• Social Layer: Focuses on providing equal prospects, studies social prog-

ress (social equity and equity of opportunities for all), and stresses fairness,
without discrimination; covers goals 1, 2, 3, 4, 5, and 10.
• Economic Aspects: Notices subjects like economic growth; covers goals 8,
9, 11, and 12.
• Environmental Layer: Includes topics associated with environmental pro-
tection of natural resources; covers goal 6, 7, 13, 14, and 15.
• Overarching Dimension: Goal 16 and 17.
1.3.1.2 Sustainability and Entrepreneurs

The new paradigm of sustainable development is now a remarkable model found in
management studies and marketing and most sub-discipline studies such as entre-
preneurship. Increasingly perceived worldwide, the key for sustainable development
in varied contexts is social entrepreneurship. Individuals trying to address a social
problem by starting a business that helps people and eases poverty, suffering, or
other issues sustainably are social entrepreneurs working towards SDGs.
Entrepreneurs’ main concern is how to address some very complex challenges
faced in communities, such as unemployment, violence, and pollution. They are
people contributing to society through their businesses. The fundamental purpose
of social entrepreneurship revolves around the social problem that the entrepreneur
is going to tackle. The entrepreneur designs a framework to describe the social situ-
ation, develop a solution, and implement it shortly. They have to explain the social
problem addressed, gather knowledge, research the issue, understand the causes, and
ensure that their business’s right resources and time are committed to that problem.
Entrepreneurs face a formidable challenge when attaining sustainable development
since they require significant transformations in their business’s models or structures
to follow up with environmental and social influences.
Social entrepreneurship focuses mainly on investing and enriching poor and mar-
ginalized people. They address social outcomes with a deliberated profit [21]. For
example, green entrepreneurs aim at being environmentally friendly, create a social
statement, remain competitive, and make money, and many other authors are with
the win-win logic and agree that being green and competitive is not a crime. Nature
itself can be the reason behind new openings for innovating.
1.3.2 Importance of Innovation
Innovation can mean developing new solutions or new ways of performing things
that drive differentiation and create measurable values. The UK government defined
innovation as “the successful exploitation of new ideas or ones that are adopted from
other sectors or organizations.” The Economic and Social Research Council (ESRC)
links innovation in business models and successfully introduces new products, ser-
vices, and processes. Nohria and Gulati [22] see that to trade, improve, and exploit
something of value, it is necessary to link creativity and innovation in production.
When a manager of any unit recognizes a new strategy, structure, technique, method,
product, or market opening, it is called innovation, according to [23].
The relationship between entrepreneurship and innovation starts with an idea
from an insight that the entrepreneur may have, or the marketplace may need.
Entrepreneurs have the mission to pursue opportunities based on innovation and the
potential of an idea to turn into a design. Inventions are also related to innovation.
Entrepreneurship is the act of taking these ideas, innovations, or inventions and turn-
ing them into new businesses.
Massive changes in technology, data, and globalization [24] all lead to a com-
petitive global economy. The economic impact of innovation on nations, regions,
industries, and businesses is not ignored. Design can be used to thrive an intelligent
economy, overcome the economic crisis, increase employment, and perform social
governance. It is also a fundamental engine for internationalization, creating the
incentives for more intense and efficient innovative efforts for entrepreneurs; innova-
tion is a tool to build new ideas that can be transformed into new business opportuni-
ties. Entrepreneurs are essential in all innovation studies; [25] was the first to link
innovation and entrepreneurship. The contribution of technological innovation to the
economy is significant since it helps create economic growth and wealth and exploit
business opportunities.
Without a doubt, technological innovation can impact businesses; diminutive
product life cycles and more prompt aging products resulted from design and prog-
ress in information technology. Offering new distinguished structures can help firms
defend limits due to product innovations, and manufacturing more proficiently is due
to process innovations. Technological innovation is brought to be a vital driver of
competitive achievements in many industries.
There is a well-established theoretical and empirical assumption of a negative
association between firm size and the level of technological extensiveness of innova-
tion. However, smaller firms came out to carry more sustainable improving designs
than any other larger firm. Therefore, addressing it from small- and medium-sized
firms is crucial [26].
1.3.3 Entrepreneurship, a Path of Innovation in Big Data Era

The impact of big data can create many challenges and opportunities for entrepre-
neurs when viewing how technology is putting an existing system out of balance.
The real deal here is how entrepreneurs can capitalize on the opportunities, moving
from a potentially promising business idea to something creating value. Advances
in technology these days are changing everything around us. Entrepreneurs can-
not ignore artificial intelligence, big data, robotics and IoT; instead, they must take
advantage of such transformations. Innovating in a digital world can give entrepre-
neurs vital knowledge tools for the ongoing digital revolution.
1.3.3.1 The New Entrepreneurial Context

The “digital native” presented by a report by the OECD (2017) consists of the
digital era’s new generation of entrepreneurs. Lately, many events have happened
to the entrepreneurial ecosystem; many startups have been building their value
proposition on the internet and are becoming leaders in their industry. Today, cre-
ating an internet startup has never been easier; infrastructure costs are decreas-
ing, management solutions as service mode are now accessible in software for
businesses, and societies are moving towards digital entrepreneurship. Patents are
now replaced with internet audiences; in fact, they provide better protection than
patents. The audience is the keystone on which the startups build their value; it
allows businesses to create a network effect. Radicalism is a pronounced form
to encourage startups. Investors and startup founders are highlighting the impor-
tance of entrepreneur hackers and encouraging disruption. Barriers to entry are
no more seen as obstacles but as opportunities. The new terminology is used after
this further radicalization; marketing was replaced by growth hacking within the
startup world.
The new entrepreneurial context sees the customer as a priority; all startups that
can contact the customer first, potentially and make him a priority, have a dominant
position in the market. This new approach gives them the ability to dictate their
terms to all players in the value stream and brings value to the customer.
1.3.3.2 Opportunities
Entrepreneurship is at an unusual phase; our daily lives are connected to cell
phones, computers, and networks, making it easier for entrepreneurs to reach peo-
ple. Entrepreneurship is becoming a value shared by many people. Big data opens
various entrepreneurship opportunities and has been a remarkable area of study for
entrepreneurship and innovation.
A live example, found in all our regular days, where innovation startles people,
would be the story behind the chatting application, WhatsApp. Brian Acton, and Jan
Koum, who used to work at Yahoo!, came up in 2009 with the idea of WhatsApp,
which fascinated a generous amount of users around the world. Due to its easy access
and use for live chat conversations, Acton and Koum earned millions of dollars
quickly, without even bothering to advertise. iPhone first-time users were charged
for installation, while Android users were charged once per year for this highly suc-
cessful application.
1.3.3.3 Big Data and Open Innovation

Whenever there is a cooperation between businesses, contractors, clients, and online
operators, innovation is founded, known as open innovation. To enhance internal
innovation and enlarge the markets for external use of design, open innovation relies
on the inflows and outflows of knowledge [27].
Open innovation stresses shifting towards a further available and dispersed model
of design. Open innovation has generated rich and various opportunities for entre-
preneurs, allowing them to assist established firms with input for the creation and to
take part as accompaniments on dominant platforms. By adopting open innovation
strategies, entrepreneurs and firms interact with producers, customers, competitors,
and consultants, which allows them to collect a large amount of data from different
sources.
Open innovation is divided into three forms:
• Open innovation between companies, where the Research & Development

departments allow the flow of ideas from outside firms to create innovation.
• Partnerships between different business sectors, where the company allows
collaboration with other players from several markets by opening their
business model to innovation.
• Open innovation spreads to consumers, using a peer-to-peer distribution
model, the Internet, and user communities capable of collaborating and
improving productivity through innovation. This is known as the economy
of contribution, where inexpert contributors or internet users prepare data.
The big data era and the digital era have permitted the trading of data,
ideas, services, and profits, creating multiple prospects to open innovation.
Citizen science results from the big data propagation where even citizens
may develop new ideas and products.
1.3.3.4 The Use of Big Data for Social Innovation

Social innovation is considered a means to address complex social problems using
big data, a common term that originated in recent years. It is believed to have a more
operative, practical, and supportive solution when tackling social problems than any
exciting solutions. This accrues value primarily to society as a more significant part
than private individuals [28]. Social innovation is said to produce new ideas and
structures and is considered the reason behind social reconstruction and contextual-
ization of standards for the good of the community, impartiality, and fairness [29].
The generated value is addressed primarily to society; entrepreneurs look for solu-
tions to social problems because they pursue social innovation.
It requires social entrepreneurs to find a new way to solve problems; they provide
products to countries worldwide that desperately need them. Social entrepreneurs
are re-conceptualizing social problems, looking at them from a different angle, and
forming innovation.
The world’s most challenging social problem can be solved by entrepreneurs
who use big data’s enormous potential to smooth the process of decision-making.
Taking part in social innovation offers entrepreneurs an all-inclusive tactic or
pathway for them to follow, which increases their chances of success in finding
solutions. According to [30], it is essential to study the conditions, approaches,
policies, and principles that result in successful social change and have a lasting
impact.
Big data vitalizes collaboration and partnerships amongst stakeholders, who own
proper resources and skills for data analysis. Social innovation that can cross social
restrictions and is multi-disciplinary can easily reach any stakeholder whosesoever
[31]. All stakeholders should take part in the social innovation process. To provide a
product or service, one needs to develop management, new technology, and innova-
tion. A well-organized social network, designed in an organizational context and
multi-layered, requires different performers with distinct characteristics, beliefs, and
ethics [32].
Recognizing society’s needs, offering services for its benefits, and certifying con-
venience of aid to individuals and society who generated these ideas require the use
of big data in the form of actionable information.
To quickly collect data and use it to solve any social problem, entrepreneurs benefit
from different internet platforms and technological usage of social media. However,
social entrepreneurs confront many challenges; human trafficking makes collecting
the essential data hard, and it lacks reliability to be used for anti-trafficking pro-
grams. Big data’s use for social change while attempting to deal with social-sector
issues is more complicated than when used for business or science. Policymakers
and entrepreneurs can provide solutions for social problems by empowering big data,
especially when these problems are resolved due to the data collected, organized and
analyzed [33].
1.4 INTERNET OF THINGS

It is officially agreed that the Internet of Things is not a concept to ignore; people
probably perceive IoT as a technological challenge only because of its impact and
scale, but IoT is a social challenge. It is impacting daily activities and changing the
way things work within companies and between organizations.
1.4.1 What is IoT?

The International Standards Organization (2017) defined the Internet of Things
as “An infrastructure of interconnected objects, people, systems and information
resources together, with intelligent services to allow them to process information of
the physical and virtual world and react.” The Internet of Things (IoT) is viewed as
an active universal network infrastructure with self-configuring proficiencies based
on morals and interoperable communication procedures, where physical and practi-
cal “things” have characteristics, physical qualities, and virtual traits; use intelligent
boundaries; and are effortlessly combined into the information network.
IoT [34] can cover any device, appliance, or gadget connected to the internet and
each other. IoT can also apply to components or parts of machines. IoT is generating
new fields of expertise and career paths that did not exist a few years ago due to its
impact on many industries and businesses. IoT is speeding up the digital transforma-
tion in the economy due to the rapid pace of change in the costs and sophistication
of component technologies, from sensors to connectivity, processing capability and
analytics-platform evolution to data storage, especially in the cloud and distributed
environments. This enables new lower-cost business models to collect, share, ana-
lyze, and act on data for process improvement and innovative services.
IoT provides the opportunity for improving productivity and innovative services
within traditional industry sectors and government. It revolutionizes citizens’ abil-
ity to generate, share, and act on data and support local communities, environment,
and new business services. The IoT is the main factor behind the fourth industrial
revolution, as per the founder and executive chair of the World Economic Forum,
Klaus Schwab. The technological discoveries express the fourth industrial revolution
in various domains, comprising robotics or Artificial Intelligence (AI), autonomous
vehicles, IoT, nanotechnology, 3D printing, and biotechnology. These discoveries
impact all restraints, markets, and businesses by collaborating the physical, digital,
and biological worlds.
IoT can be replaced with many terms having the same meaning: Internet of
Everything, the Industrial Internet of Things (KIOT), which is a term used to
exclude “consumer IoT” and “Industry 4.0.” Industry 4.0 refers to IoT bringing about
the fourth industrial revolution and indicating specifically the manufacturing sector.
There are other sectoral variants, including Cities 4.0 and Mobility 4.0.
According to the Department of Industry, Innovation, and Science in the year
2007, the rapid race of IoT is driven by factors, including the below:
• Increase in data volumes, computational authority, and connectivity.

• Human-machine interactions and their new forms
• The occurrence of analytics and business intelligence skills

• Enhancement in relocating digital orders to the psychical world.
1.4.2 Opportunities to Innovate with IoT

1.4.2.1 Business Innovation Framework
The business innovation process manages IoT innovation through creativity, cus-
tomer, partner analysis, assessment, implementation, justification, and prioritization.
Business IoT innovation is tracked and managed through the business and with part-
ners. IoT creativity is developing an idea practice using proven tools and processes
to co-create innovations internally and externally. IoT projects should be fixed in
a complete enterprise IoT scheme. The process enables sharing and discussion of
cross-company and partner-wide ideas, priorities, and practical issues. The process
fosters collaboration, identifies common and achievable goals and buy-ins for imple-
mentation. Collaboration is the key and is where we decide who we want to work
with and how.
1.4.2.2 Foundational Capability

Preparing for IoT requires foundational investment in skills and organization, IoT
platform capabilities, and whether these skills and capabilities are internally or
externally sourced and delivered. The core objective is to develop an integrated IoT
approach within the association and warrant that best practices awareness can be
efficiently communal and leveraged across the entire organization. This is often
expressed as a “Centre of Excellence.” The “IoT Platform” is required to enable
services to support testing, development, delivery, and digital services marketing.
The scoping and selection criteria are proposed in workshops that include sharing
experiences of different models and applications.
Information technology system scholars tend to view IoT entrepreneurship issues
from a technology or application-based perspective. For instance, [35] reviewed
several IoT domain elements such as technological, physical, and socioeconomic
environments and proposed generic value propositions obtained from different case
studies. Additionally, [36] discussed crowdsourcing-related IoT technologies and
proposed an application-based model that fulfills possible entrepreneurship oppor-
tunities using sensors.
1.4.2.3 IoT Business Innovation Model; Orchestrating Value Networks

Customers expect to encounter a complete user experience when everything is con-
nected, since they assume that IoT businesses deliver end-to-end solutions that in
place require enterprises to join. For business-model methodologies, it is essential to
concentrate on standards and orchestrating value networks. To have a future-proof
business model, participants need a business model roadmap to reorganize their
plan [37].
For entrepreneurs to excel, it is critical to include innovation in the business model
rather than the technology itself. Authors have recommended several innovative
business models and presented how they operate at an ecosystem level. Management
and entrepreneurship scholars primarily view IoT entrepreneurship issues from a

generic business model perspective. [38], for an instant, applied a business-model
framework to unveil the common practices taking place in the IoT industry regard-
ing innovative business models.
1.4.3 IoT for an Enriched World

Application of IoT ensures sustainability and enhances our world for a better living;
this is seen in different successful cases:
• Ask Izzy: Born from the collaboration between Melbourne’s not-for-profit

info exchange and the private sector companies, it was first founded in 2016
with up to 2.4 million searches. Ask Izzy is a free and mysterious mobile
application aimed at Australian people in need of shelter, food, financial
assistance, counseling, backing due to violence, and the list goes on. It has
over 370,000 services that connect tens of thousands of people with necessi-
ties. Formed to be data-free on the Telstra mobile network, Ask Izzy allows
its audience to use the site without the need of having credit or admission
to free Wi-Fi
• Lumkani: The private company aimed at underprivileged societies in
Africa and World Vision makes fire protection available by developing a
networked heat indicator that alarms the public members of incidents of
fire. Lumkani, also partnered with Hollard Group Insurance, is on the look-
out to form new partnerships with micro-lending organizations internation-
ally, and is exerting an effort to expand distribution outside Africa.
• Vera Solutions: Designed to go through “mountains of dead data,” which
have been disregarded in South Africa due to underprivileged tracking and
assemblage processes. Vera Solutions helps health organizations fight HIV/
AIDS better after managing people’s health information with the virus that
already exists.
• Aclima: An IoT-connected sensor that measures air pollution and blocks
and maps the city of Oakland, California, was invented by Aclima, a tech
startup with Google Street View vehicles (a Cisco Partner). This aids scien-
tists in recognizing where pollution is greater than predicted, discovering
specific crossings that have air pollution five to eight times higher than their
nearby regions. Aclima has high hopes that managers, city developers, and
healthcare workers will use these data to make modifications to help fight
climate change and develop citizen well-being.
1.5 CONCLUSION
Big data and analytics have been the object of genuine and heated debate over the
last few years; almost any search engine provides over 3 million results for one’s
inquiry.
To better pinpoint high-potential personnel, develop team efficiency [39], dimin-
ish turnover [40], and increase creativity leading to success [41, 42], organizations
need to proceed with creating big data using information. Big data generates new
openings that should be considered and captured by governments and establishments
around the world [43].
Big data, whose main goal and purpose are to guarantee sustainability and assist
with innovation, has changed how we perceive the world. Being closely connected
to innovation, entrepreneurs are considered the engine for economic growth and
social change. In an ever-changing world, entrepreneurs are essential; they are pre-
sented with both opportunities and challenges that may seem overwhelming and too
complicated to solve, but have the role and responsibility to positively impact and
contribute with innovative solutions, especially in the big data era.
NOTES
1. The first modern steam engine’s prototype was designed by Thomas Newcomen.
2. Constable, 2003
3. http://www.internetlivestats.com/
4. The most recent iteration of the global sustainable development agenda.
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2 Big Data for
Entrepreneurship
Towards CSR and
Sustainable Development
Hamid Doost Mohammadian
University of Applied Sciences (FHM), Germany
Fatemeh Rezaie
Lyon University and IMI, France -Iran
CONTENTS
2.1 Introduction..................................................................................................... 22
2.2 Literature Review............................................................................................ 23
2.2.1 Sustainable Development..................................................................... 23
2.2.2 CSR......................................................................................................24
2.2.3 Entrepreneurship..................................................................................25
2.2.4 High Technologies...............................................................................26
2.2.5 Digitalization.......................................................................................28
2.2.6 Ubiquitous............................................................................................ 30
2.2.7 Technologies Based on Internet and Information................................ 31
2.2.8 Industry 4.0.......................................................................................... 31
2.2.9 Society 5.0........................................................................................... 32
2.2.9.1 Big Data................................................................................ 33
2.3 Methodology.................................................................................................... 33
2.4 Discussion........................................................................................................ 35
2.4.1 Sustainable Development and Future of the World............................. 35
2.4.2 Sustainable Economy Towards Sustainable Development.................. 38
2.4.3 Big Data and Sustainable Economy.................................................... 42
2.5 Conclusion and Future Scenario...................................................................... 43
2.5.1 Conclusion........................................................................................... 43
2.5.2 Future Scenarios.................................................................................. 45
References................................................................................................................. 45
DOI: 10.1201/9781003090045-2 21
2.1 INTRODUCTION
These days, the world faces global and urbanization challenges, including poverty,
slums, unemployment, economic instability and economic problems, climate change,
environmental challenges, insecurity, social challenges, and health diseases and chal-
lenges. These challenges are significant threats to the future of the world and human-
ity. It is necessary to tackle them to preserve the world, nature, and environment for
future generations and improve livability and life in the present. Sustainable develop-
ment could be applied to deal with global challenges and achieve a better quality of
life and citizens’ livability. Sustainable development is declared as a tool that makes
the world able to meet and supply the present’s needs besides preserving the environ-
ment for future generations to meet their needs by the Brundtland Commission.
Generally, a sustainable economy is an indicator required to manage sustainable
development. Businesses and entrepreneurship economic are the backbone of each
country by their benefits, such as creating new jobs and employment opportunities,
sustainable industrialization, reducing economic challenges, and creating inclusive
and sustainable economic development and enhancement. Sustainable businesses are
strategies to develop sustainable development to deal with global challenges, reduce
impacts of these challenges, and design livable, sustainable urban settings where
high quality of life is available. Creating sustainable and modern businesses aligned
with current and growing demands are required to develop economic sustainability.
In recent decades, technologies based on the internet and information like IT,
ICT, IoE, IoT, digitalization, ubiquitous and high technologies play significant roles
in distributed energy systems to increase energy systems’ efficiency and improve
energy infrastructure to decrease wastage. It can also be extended to minor lev-
els, manufacturing, and operation units. Organizations founded on applying high
technologies can make the procedure faster, safer, with higher productivity towards
sustainable and productive businesses. These technologies could influence interac-
tions and create modern and agile companies that can supply modern and growing
sustainable development needs.
One of the leading technologies that businesses could apply to create sustainable,
agile, and modern companies is big data. This technology is about collecting data
sources, technologies, and methodologies used to develop data designed to deal with
challenges and problems that make business barriers.
Generally, technologies and entrepreneurship play significant roles in business
success and sustainability. It is vital to apply such technologies and improve them
to create modern businesses. Notably, organizations founded on technology like IoE
and big data could enable companies aligned with growing urbanization and sup-
plied current needs to succeed. So, businesses based on big data and high technolo-
gies are required to achieve sustainable development.
This study aims to discover how technologies and big data could be applied as a
tool to achieve sustainable development. To complete the main aim of the research,
three sub-goals are recognized. The first sub-goal is to realize the importance of
applying high technologies and modern ones like big data for businesses success.
The importance of sustainable development for the future of the world is the second
subgoal. The study’s final aim is to find out how modern and sustainable businesses
could deal with global challenges and develop sustainability.
Big Data for Entrepreneurship 23
2.2 LITERATURE REVIEW

In this sector, a background of the main criteria of the research is mentioned.
2.2.1 Sustainable Development
Carlowitz declared sustainable as a new approach for the first time in 1713. In the
first half of the eighteenth century, the idea of sustainable revenue was introduced
in Denmark, Norway, Russia, and France, and finally sustainability was officially
stated in the 1970s [1, 2].
For the first time, the idea of sustainable development was mentioned in the World
Conservation Strategy drafted by the United Nations Environment Program (UNEP)
and the International Union for the Conservation of Nature (IUCN) in 1980. The
UN’s World Commission on Environment and Development in 1987 renewed the call
for sustainable development. Agenda 21, held in 1995, was presented as concerned
with access to land, security of land tenure, tenants’ rights, liberalized credit poli-
cies, and low-cost building material programs for “sustainable” urban living for the
homeless the urban poor [3]. Agenda 21 was reported that “Sustainable Development
is a multidimensional undertaking to achieve a higher quality of life for all people.
Economic development, social development and environmental protection are inter-
dependent and mutually reinforcing components of sustainable development.” [4]
Based on UN research, the main goals of sustainable development are:
• Reducing poverty and famine everywhere

• Ending hunger, developing food security, and improving nutrition and agri-
culture sustainability
• Promoting well-being and insuring healthy life
• Creating a proper context for inclusive and high-quality education besides
promoting learning opportunities for all
• Development of gender equality and equal opportunities for women and girls
• Creating a situation to achieve sustainable water management and sanitation
• Accessing to inclusive, clean, and sustainable energy for all
• Improving sustained, inclusive, and sustainable economic growth, making
an environment for productive employment and decent work for all
• Creating resilient infrastructure, promoting inclusive and sustainable indus-
trialization, and applying innovation
• Creating sustainable and livable cities
• Reducing inequality everywhere
• Achieving consumption sustainability and sustainable patterns for
production
• Reducing climate change and environmental impacts
• Sustainable patterns for the usage of the oceans, seas, and marine resources
for sustainable development and maintaining them
• Protecting, restoring, and improving the sustainable use of terrestrial eco-
systems; sustainably managing forests; combating desertification; and halt-
ing and reversing land degradation and biodiversity loss
• Making societies with social sustainability to achieve justice for all and
build effective, accountable, and inclusive institutions for all
• Strengthening the global partnership to develop sustainability
FIGURE 2.1 7 PS Model [Prof. Dr Hamid Doost Mohammadian, 2017, 7]
Sustainability has three main traditional pillars: environment, economic, and

social well-being [4–6].
Authors declare the modern concept of sustainability. According to this approach,
traditional sustainability pillars can tackle problems these days, and new posts are
required to deal with challenges and manage sustainable development. Therefore, a
new concept of sustainability introduced as 7PS theory is declared by the authors.
7PS theory has seven indicators that make up the traditional notion of
sustainability—environmental, economic, and social sustainability. Environmental,
economic, social, cultural, educational, political, and technical sustainability are the
main components of high sustainability. These seven pillars need to be developed
relatively equally to achieve sustainable development. This theory has two aspects:
seven p illars—including education, culture, social, technique, politics, economic,
and environment—are needed to develop sustainability, and these seven pillars
must create almost equally [7]. These two aspects of 7PS theory are presented in
Figure 2.1 above.
2.2.2 CSR
Social responsibility is popular as corporate social responsibility, corporate citizen-
ship, or corporate sustainability presents businesses’ commitment to the environ-
ment and social.
Corporate Social Responsibility (CSR) is about doing business in a way that
accounts for its social and environmental effects [8]. CSR is an approach that com-
panies have a responsibility to society, the environment, and a broader set of stake-
holders beyond its shareholders [9].
Social responsibility is not a novel idea. For the first time, in 1916, Clark said:
“if men handle the known result of their actions, business responsibilities must
include the known consequences of business dealings, whether or not these have
been recognized by law [10].” But in 1953 Bowen presented officially the con-
cept of corporate social responsibility in his book named Social Responsibility of
Business Executive [11]. Generally, CSR means that corporation and businesses,
in general, should also focus on societal concerns and needs, and be responsible
to the society in which they operate as well as the environment while working on
their primary goals: efficiency, productivity, and maximizing their shareholders’
profit [12].
The business has responsibility for its impacts and its influences on the envi-
ronment, consumers, employees, communities, stakeholders, and all other society
members [13].
Based on Wayne Visser’s concept, Corporate Social Responsibility is the clas-
sic and traditional idea that he introduced as CSR 1.0. He also presented a new
conception, CSR 2.0, which could be introduced as Corporate Sustainability and
Responsibility. In this era that the world confronted with urbanization and global
challenges such as climate change, poverty and unemployment, environmental chal-
lenges, insecurity, social instability, and so on, it is vital to pursue CSR 2.0. CSR 1.0
makes business fall behind and created problems for being socially responsible and
sustainable these days, and CSR 2.0 could be aligned with urbanization and global
challenges [14, 15].
Social responsibility would help companies and businesses reduce their costs and
risks, maximize profits, evaluate reputation and legitimacy, make synergistic value,
and make social and environmental sustainability. Therefore, CSR’s business strat-
egy could help companies to be aligned with social and environmental performance.
Generally, SCR helps companies in progressing sustainability and creating sus-
tainable development [16].
2.2.3 Entrepreneurship
Entrepreneurship is concerned with an activity involving the analysis, revelation,
evaluation, and applying of opportunities to present novel tools, techniques, services,
performances, and so on, via organizing efforts that previously had not existed.
Innovation, opportunity recognition, process, and growth in a business are the main
entrepreneurship features [17].
Enterprise concept is the fundamental idea behind a business. It is a factor required
for business growth, development, and success. Enterprise concept is necessary to
develop business ideas to make a business plan and launch a firm [18].
Entrepreneurship could be applied as a creative and innovative path to evaluate
economic systems. Entrepreneurship could be developed through innovation, and
also be improved by innovative techniques and tools. There is a relation between
entrepreneurship and innovation by which to create new businesses to create eco-
nomic growth opportunities [19].
Generally, entrepreneurship influences the economy at three levels: at the aggre-
gate level, at the consumer level, and at the firm level. At the first level, innovative
entrepreneurship makes a profit for the economy by making job opportunities, evalu-
ating income, and creating a proper infrastructure for new investments. It produces
value for consumers such as the improved products or services at lower costs at the
consumer level. In the last group, entrepreneurship makes organizations compete
with other ones which are not innovators by the advantages of innovation and entre-
preneurship [20, 21].
2.2.4 High Technologies

We live in an era that technology plays significant roles in the future of the world and
affects every aspect and level of lives.
Technology is a tool required to produce new products and processes. High tech-
nology is about technology based on rapid renovation of knowledge, and needs to be
explored and studied to increase its usage in different aspects [22]. High technology
is about applying advanced scientific research and expertise, especially electronics
and computers, to align with humans’ demands and sustainable development [23].
Artificial intelligence, machine learning, and robotics are the main types of high
technologies.
Artificial Intelligence (AI) is about making computers and machines intelligent
and learning, judging, and performing tasks needing humans’ intelligence such
as visual perception, speech recognition, decision-making, and translation of lan-
guages. Besides this definition, there are popular meanings for AI like:
• The concerned concept machines that can enhance and do some capabili-
ties and performances by human intelligence.
• The development of human intelligence via applying computers and
mechanical tools.
• The study of techniques to utilize computers and tools more effectively.
Generally, all these definitions focus on thinking like humans, acting like humans,
reasoning, and acting rationally. In other words, AI is about fields founded on these
four categories.
An AI system is a machine-based system that can do human-defined objectives
like making predictions, recommendations, or decisions that impact our virtual
environments. Sensors, operational logic, and actuators are the main elements of AI.
These days, AI is used in different industries and business domain, ranging
from healthcare, finance, manufacturing, education, etc. Diagnosing diseases, edu-
cation, approaching document for lawyers and others, manufacturing, agriculture,
transportation, financial systems, and eventually living will be improved and easier
through AI and machine learning. Besides, AI is a tool applied in the energy sec-
tor to improve energy saving and energy efficiency through smart grids, electricity
trading, power consumption, etc. Fundamentally, AI could transform economies,
achieve productivity gains, improve efficiency, and lower costs. So, it could influence
enhancing livability and quality of human life [23, 24 and 25].
Machine learning is another type of high technology that has been one of the
main pillars of information technology and plays important roles in daily human life.
Machine learning (ML) is about science that makes computers learn to solve
problems instead of being human programmed. In other words, ML is about the
ability of a machine to understand and improve its performances and processes by
itself. Data plays an essential role in machine learning. Besides, a learning algorithm
applies to learn science, knowledge, and properties through the data. Machine learn-
ing demonstrates methods that can learn patterns in existing data, thus generating
analytical models that can be utilized inside larger IT artifacts.
Supervised learning, unsupervised learning, semi-supervised learning, and rein-

forcement learning are different techniques of machine learning. Besides these three
keys, semi-supervised education is the fourth key of machine learning that has been
popular recently. It contains both labeled and unlabeled data and eventually learns
knowledge through data. Therefore, its definition is between supervised and unsu-
pervised learning.
Machine learning is applied as a tool to deal with business challenges. It is used in
businesses to improve the client’s experience. Manufacturing, retail, healthcare and
life sciences, travel and hospitality, financial services, and energy are the prominent
cases utilizing ML to improve their performances [26, 27 and 28].
Robotics is the last type of high technology. Since the mid-twentieth century,
research and mechanical development have emerged through industrial environments
in which using a machine instead of humans is attractive. Robots are applied for works
and tasks that are too dirty, dangerous, or distant for humans do them. Robotics is about
science or studying robot technology to do humans’ tasks such as dynamic system
modeling and analysis, mathematics, physics, biology, mechanical engineering, etc.
The word “robot” is derived from the Czech word pa6oTa (rabota), which means
work or labor in Russian.
In particular, the development of robotics technology is based on automatic
watchmaking and applying innovation to industrial machinery.
The most critical challenges in robotics are high-dimensional, continuous states
and actions. Useful algorithms could solve them, fundamentally learning to play a
significant role in robotics research and development. Machine-learning algorithms
could influence robots to teach themselves as well as tackling challenges they are
confronted with. Machine learning is applied in different robotics areas like robot
vision, robot navigation, field robotics, humanoid robotics, legged locomotion, medi-
cal, surgery robotics, etc., to do their tasks efficiently. In specific, machine learning
has vital roles in robotic development [29, 30].
Three main reasons are introduced for increasing utilizing robots in recent years:
• Robots are less expensive than humans

• Robots are more capable than humans
• Based on the growth of manufactured goods, robots are useful tools to be a
leader in manufacturing
Robots are used in different industries such as agriculture, automobile, construc-

tion, laboratories, manufacturing, military, transportation, law enforcement, and
warehouses to do better path tasks. Robots will also be used in service sectors like
healthcare, transportation, hospitality, etc. [31, 32].
Fundamentally, utilizing robots transforms businesses through their advantages,
such as:
• Saving the cost of exposition

• Improving product quality
• Promoting the quality of the working atmosphere
• Increasing production quality and quantity
• Increasing flexibility in product manufacturing

• Intensifying yield and reducing waste
• Making a safe workplace
• Reducing employee turnover
• Reducing costs, especially cost related to capital
• Making it standard to operate with utilization maximization
• Saving energy
• Improving innovation of technology
• Developing new businesses
• Improving issues related to human labor [33]
Additionally, big data is a kind of high technology applied in different fields, espe-
cially in machine learning, which is declared entirely in a future context.
High technologies make a proper context for developing technologies based on
the internet and digitalization, and they are ubiquitous in the Western and Eastern
world as tools to build sustainability.
2.2.5 Digitalization
Digitalization has been one of the issues that could influence changing society, life,
and businesses in the present and near future. We live in an era where digitalization
could be used as a technique that would change how we live and could develop sus-
tainability. Digitalization has emerged since the end of the twentieth century. These
days are a controversial issue to make the world a better place for living through
changing social, economic, and environment [34, 35].
Digitalization focuses on applying connectivity and networking of digital tech-
nologies to improve businesses, services, manufacturing, trade between people, and
eventually life. It reflects the adoption of digital technologies in business and society
and the associated changes in the connectivity of individuals, organizations, and
objects [34]. When we talk about digitalization, three areas are concerned:
1. Digitization: where the analog items are transformed into digital ones (i.e.,
electronic version of paper documents)
2. Digitalization: where digital technologies apply to alter business models,
form revenue, enhance business and value-producing opportunities
3. Digital transformation: where digital technologies are utilized to transform
old aspects into modern ones [36]
Digitalization is introduced as “the changes associated with the application of digital

technology in all aspects of human society.” Also, it is concerned with transform-
ing products and services to digital ones to gain advantages like productivity and
efficiency [35, 37].
Digitalization has four main stages:
1. Planning processes, including:

• Recognition material that could be digitized and rights concerning to it
• Recognition of required and proper resources
Another random document with
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Slowly, he pieced it together, mortified to find himself annoyed when
Marthe interrupted with constant questions about his Berlin and
especially about his equipment.
And, pieced together, it still refused to seem logical.
How could anyone believe that Goering, in the face of all good
sense, would turn the Luftwaffe from destroying the R.A.F. bases to
a ridiculous attack on English cities? How could anyone believe that
German electronics scientists could persistently refuse to believe
ultra-shortwave radar was practical—refuse to believe it even when
the Allied hunter planes were finding surfaced submarines at night
with terrible accuracy?
What kind of nightmare world was this, with Germany divided and
the Russians in control of Europe, in control of Asia, reaching for the
Middle East that no Russian, not even the dreaming czars, had
seriously expected ever to attain?
"Marthe—we must get out of this place. We must. I will have to
rebuild my machine." It would be incredibly difficult. Working
clandestinely as he must, scraping components together—even now
that the work had been done once, it would take several years.
Professor Kempfer looked inside himself to find the strength he
would need. And it was not there. It simply was gone, used up, burnt
out, eaten out.
"Marthe, you will have to help me. I must take some of your strength.
I will need so many things—identity papers, some kind of work so we
can eat, money to buy equipment...." His voice trailed away. It was
so much, and there was so little time left for him. Yet, somehow, they
must do it.
A hopelessness, a feeling of inevitable defeat, came over him. It was
this world. It was poisoning him.
Marthe's hand touched his brow. "Hush, Jochim. Go to sleep. Don't
worry. Everything is all right, now. My poor Jochim, how terrible you
look! But everything will be all right. I must go back to work, now. I
am hours late already. I will come back as soon as I can. Go to
sleep, Jochim."
He let his breath out in a long, tired sigh. He reached up and touched
her hand. "Marthe...."
He awoke to Marthe's soft urging. Before he opened his eyes he had

taken her hand from his shoulder and clasped it tightly. Marthe let
the contact linger for a moment, then broke it gently.
"Jochim—my superior at the Ministry is here to see you."
He opened his eyes and sat up. "Who?"
"Colonel Lubintsev, from the People's Government Ministerium,
where I work. He would like to speak to you." She touched him
reassuringly. "Don't worry. It's all right. I spoke to him—I explained.
He's not here to arrest you. He's waiting in the other room."
He looked at Marthe dumbly. "I—I must get dressed," he managed to
say after a while.
"No—no, he wants you to stay in bed. He knows you're exhausted.
He asked me to assure you it would be all right. Rest in bed. I'll get
him."
Professor Kempfer sank back. He looked unseeingly up at the ceiling
until he heard the sound of a chair being drawn up beside him, and
then he slowly turned his head.
Colonel Lubintsev was a stocky, ruddy-faced man with gray bristles
on his scalp. He had an astonishingly boyish smile. "Doctor
Professor Kempfer, I am honored to meet you," he said. "Lubinsev,
Colonel, assigned as advisor to the People's Government
Ministerium." He extended his hand gravely, and Professor Kempfer
shook it with a conscious effort.
"I am pleased to make your acquaintance," Professor Kempfer
mumbled.
"Not at all, Doctor Professor. Not at all. Do you mind if I smoke?"
"Please." He watched the colonel touch a lighter to a long cigarette
while Marthe quickly found a saucer for an ashtray. The colonel
nodded his thanks to Marthe, puffed on the cigarette, and addressed
himself to Professor Kempfer while Marthe sat down on a chair
against the far wall.
"I have inspected your dossier," Colonel Lubintsev said. "That is,"
with a smile, "our dossier on your late counterpart. I see you fit the
photographs as well as could be expected. We will have to make a
further identification, of course, but I rather think that will be a
formality." He smiled again. "I am fully prepared to accept your story.
It is too fantastic not to be true. Of course, sometimes foreign agents
choose their cover stories with that idea in mind, but not in this case,
I think. If what has happened to you could happen to any man, our
dossier indicates Jochim Kempfer might well be that man." Again,
the smile. "In any counterpart."
"You have a dossier," Professor Kempfer said.
Colonel Lubintsev's eyebrows went up in a pleased grin. "Oh, yes.
When we liberated your nation, we knew exactly what scientists
were deserving of our assistance in their work, and where to find
them. We had laboratories, project agendas, living quarters—
everything!—all ready for them. But I must admit, we did not think we
would ever be able to accommodate you."
"But now you can."
"Yes!" Once more, Colonel Lubintsev smiled like a little boy with
great fun in store. "The possibilities of your device are as infinite as
the universe! Think of the enormous help to the people of your
nation, for example, if they could draw on machine tools and
equipment from such alternate places as the one you have just left."
Colonel Lubintsev waved his cigarette. "Or if, when the Americans
attack us, we can transport bombs from a world where the revolution
is an accomplished fact, and have them appear in North America in
this."
Professor Kempfer sat up in bed. "Marthe! Marthe, why have you
done this to me?"
"Hush, Jochim," she said. "Please. Don't tire yourself. I have done
nothing to you. You will have care, now. We will be able to live
together in a nice villa, and you will be able to work, and we will be
together."
"Marthe—"
She shook her head, her lips pursed primly. "Please, Jochim. Times
have changed a great deal, here. I explained to the Colonel that your
head was probably still full of the old Nazi propaganda. He
understands. You will learn to see it for what it was. And you will help
put the Americans back in their place." Her eyes filled suddenly with
tears. "All the years I went to visit your grave as often as I could. All
the years I paid for flowers, and all the nights I cried for you."
"But I am here, Marthe! I am here! I am not dead."
"Jochim, Jochim," she said gently. "Am I to have had all my grief for
nothing?"
"I have brought a technical expert with me," Colonel Lubintsev went
on as though nothing had happened. "If you will tell him what
facilities you will need, we can begin preliminary work immediately."
He rose to his feet. "I will send him in. I myself must be going." He
put out his cigarette, and extended his hand. "I have been honored,
Doctor Professor Kempfer."
"Yes," Professor Kempfer whispered. "Yes. Honored." He raised his
hand, pushed it toward the colonel's, but could not hold it up long
enough to reach. It fell back to the coverlet, woodenly, and Professor
Kempfer could not find the strength to move it. "Goodbye."
He heard the colonel walk out with a few murmured words for
Marthe. He was quite tired, and he heard only a sort of hum.
He turned his head when the technical expert came in. The man was
all eagerness, all enthusiasm:
"Jochim! This is amazing! Perhaps I should introduce myself—I
worked with your counterpart during the war—we were quite good
friends—I am Georg Tanzler. Jochim! How are you!"
Professor Kempfer looked up. His lips twisted. "I think I am going
away again, Georg," he whispered.
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Big Data for Entrepreneurship and

Sustainable Development 1st Edition

Big Data for Entrepreneurship and Sustainable

Entrepreneurship and Big Data: The Digital Revolution

Advances in Data Science Symbolic Complex and Network

2021 International Conference on Big Data Analytics for

Data-Enabled Analytics: DEA for Big Data Joe Zhu

Handbook of Artificial Intelligence for Smart City

Innovations and Traditions for Sustainable Development

Cognitive Big Data Intelligence with a Metaheuristic

Industry 4.0 or fourth industrial revolution refers to interconnectivity, automation

Entrepreneurship and Big Data

For more information on this series, please visit: https://www.routledge.com/

and by CRC Press

CRC Press is an imprint of Taylor & Francis Group, LLC

Library of Congress Cataloging‑in‑Publication Data

Names: Abdelli, Mohammed El Amine, editor.

ISBN: 978-0-367-54663-2 (hbk)

Typeset in Times LT Std

Mohammed El Amine Abdelli

Chapter 1 Entrepreneurship and Social Innovation in Big Data

Chapter 2 Big Data for Entrepreneurship Towards CSR and Sustainable

Chapter 3 Finance, Digital Disruption, and Sustainability: Issues,

Chapter 4 Disruptive Financial Innovation and Big Data Implications

Chapter 5 Cybersecurity Aids Financial Institutions Performance..................... 91

Chapter 6 Sustainability-Oriented Cost Management Tools and Big

Chapter 7 Industry 4.0 and Digital Supply-Chain Management:

Chapter 8 New Forms of Effective Collaboration: How to Enhance Big

Chapter 9 Rethinking Tourism Entrepreneurship Amidst COVID-19

Chapter 10 The New Trends Technology of Entrepreneurship in the

Nathalie Achkouty Anjum Razzaque

Murat Akkaya Fatemeh Rezaie

Abdalmuttaleb Al-Sartawi Mohamed Abdelmounem Serag

Wissem Ajili‑Ben Youssef is an Assistant Professor in

Uğur Özgöker, Former Rector, the American University of

Business Administration and Economics, International Relations Department Head

Imen Ben Slimene is an Assistant Professor in Finance

1.4.2.1 Business Innovation Framework........................................... 16

1.2 BIG DATA

1.2.1.1 First Industrial Revolution

1.2.1.2 Second Industrial Revolution

1.2.1.3 Third Industrial Revolution

1.2.1.4 Fourth Industrial Revolution

FIGURE 1.2 Big Data and Technologies

1.2.2 Data Era and Technologies

1.2.3 What Can Big Data Solve

FIGURE 1.3 Big Data and Decisions

1.2.3.1 Availability and Capability

1.2.6 The Four Vs and Challenges of Big Data

• Volume: This dimension is also called data at scale; terabytes, petabytes

FIGURE 1.4 4 Vs of Big Data, Source: Business Wire

1.3 BIG DATA, ENTREPRENEURS, AND INNOVATION

1.3.1 Importance of Entrepreneurship and Sustainability

• Social Layer: Focuses on providing equal prospects, studies social prog-

1.3.1.2 Sustainability and Entrepreneurs

1.3.3 Entrepreneurship, a Path of Innovation in Big Data Era

1.3.3.1 The New Entrepreneurial Context

1.3.3.3 Big Data and Open Innovation