The Role of Data Science on Performance Excellence

The arrival of the fourth industrial revolution, characterized by the integration of computational applications with physical devices, is unlike any of the earlier industrial revolutions because of its impact on all disciplines, economies, and industries. The disruptive elements of the fourth industrial revolution include the Internet of Things, big data, artificial intelligence, quantum computing, and cloud computing. The development of cloud computing and the Internet of Things has contributed to the increase in the amount and availability of data generated through digital devices, such as mobile phones, desktop and laptop computers, and wearable devices. The application of these technologies plays a critical role in developing a fact-based and data-driven culture to achieve performance excellence. This paper discusses the key technologies of the Fourth Industrial Revolution, with an emphasis on the role of big data and advanced analytical techniques for decision-making, performance improvement, and competitive advantage. The ability to leverage big data analytics capabilities with organizational resources and capabilities will ensure the achievement of performance excellence. An effective technique for processing big data can provide value and knowledge for decision-making, performance improvement, and competitive advantage for an organization.