BIG DATA-DRIVEN MARKETING: AN ABSTRACT

Customer information plays a key role in managing successful relationships with valuable customers. Big data customer analytics use (BD use), i.e., the extent to which customer information derived from big data analytics guides marketing decisions, helps firms better meet customer needs for competitive advantage. This study addresses three research questions: What are the key antecedents of big data customer analytics use? How, and to what extent, does big data customer analytics use influence firm performance? Is competitive advantage, if any, achieved through big data customer analytics use contingent upon its prevalence within an industry? Drawing primarily from market information use theory, we advance a theoretical framework to examine how informational and organizational factors act to enhance big data customer analytics use, which in turn influences customer relationship and financial performance. More specifically, we identify and show how information quality (IQ), big data analytics culture, and customer orientation act as key antecedents of big data customer analytics use, which in turn is the critical mechanism to achieve superior CRM outcomes. Finally, we investigate whether the performance implications of big data customer analytics use vary depending on the prevalence of big data customer analytics use in the firm’s industry. Empirical findings from a survey of 301 senior marketing executives, representing large US-based firms in B2C industries, support our conceptualization of the performance outcomes and antecedents of BD use. First, the results highlight that the characteristics of the customer information (IQ) and the characteristics of the user organization (customer orientation and big data analytics culture) strongly predict BD use. The findings also reveal the relative importance of different customer information characteristics to marketing decision-makers. Second, the results confirm BD use as a key predictor of firm performance, and more specifically, that big data customer analytics use primarily influences financial performance indirectly via customer relationship performance. Third, this study suggests that the performance impacts of BD use are highly contingent on its prevalence among industry rivals. References Available Upon Request

Effectiveness of Corporate Social Media Activities to Increase Relational Outcomes

This study applies social media analytics to investigate the impact of different corporate social media activities on user word of mouth and attitudinal loyalty. We conduct a multilevel analysis of approximately 5 million tweets regarding the main Twitter accounts of 28 large global companies. We empirically identify different social media activities in terms of social media management strategies (using social media management tools or the web-frontend client), account types (broadcasting or receiving information), and communicative approaches (conversational or disseminative). We find positive effects of social media management tools, broadcasting accounts, and conversational communication on public perception

Marketing relations and communication infrastructure development in the banking sector based on big data mining

Purpose: The article aims to study the methodological tools for applying the technologies of intellectual analysis of big data in the modern digital space, the further implementation of which can become the basis for the marketing relations concept implementation in the banking sector of the Russian Federation‘ economy. Structure/Methodology/Approach: For the marketing relations development in the banking sector in the digital economy, it seems necessary: firstly, to identify the opportunities and advantages of the big data mining in banking marketing; secondly, to identify the sources and methods of processing big data; thirdly, to study the examples of the big data mining successful use by Russian banks and to formulate the recommendations on the big data technologies implementation in the digital marketing banking strategy. Findings: The authors‘ analysis showed that big data technologies processing of open online and offline sources of information significantly increases the data amount available for intelligent analysis, as a result of which the interaction between the bank and the target client reaches a new level of partnership. Practical Implications: Conclusions and generalizations of the study can be applied in the practice of managing financial institutions. The results of the study can be used by bank management to form a digital marketing strategy for long-term communication. Originality/Value: The main contribution of this study is that the authors have identified the main directions of using big data in relationship marketing to generate additional profit, as well as the possibility of intellectual analysis of the client base, aimed at expanding the market share and retaining customers in the banking sector of the economy.peer-reviewe

Creating business value from big data and business analytics : organizational, managerial and human resource implications

This paper reports on a research project, funded by the EPSRC’s NEMODE (New Economic Models in the Digital Economy, Network+) programme, explores how organizations create value from their increasingly Big Data and the challenges they face in doing so. Three case studies are reported of large organizations with a formal business analytics group and data volumes that can be considered to be ‘big’. The case organizations are MobCo, a mobile telecoms operator, MediaCo, a television broadcaster, and CityTrans, a provider of transport services to a major city. Analysis of the cases is structured around a framework in which data and value creation are mediated by the organization’s business analytics capability. This capability is then studied through a sociotechnical lens of organization/management, process, people, and technology. From the cases twenty key findings are identified. In the area of data and value creation these are: 1. Ensure data quality, 2. Build trust and permissions platforms, 3. Provide adequate anonymization, 4. Share value with data originators, 5. Create value through data partnerships, 6. Create public as well as private value, 7. Monitor and plan for changes in legislation and regulation. In organization and management: 8. Build a corporate analytics strategy, 9. Plan for organizational and cultural change, 10. Build deep domain knowledge, 11. Structure the analytics team carefully, 12. Partner with academic institutions, 13. Create an ethics approval process, 14. Make analytics projects agile, 15. Explore and exploit in analytics projects. In technology: 16. Use visualization as story-telling, 17. Be agnostic about technology while the landscape is uncertain (i.e., maintain a focus on value). In people and tools: 18. Data scientist personal attributes (curious, problem focused), 19. Data scientist as ‘bricoleur’, 20. Data scientist acquisition and retention through challenging work. With regards to what organizations should do if they want to create value from their data the paper further proposes: a model of the analytics eco-system that places the business analytics function in a broad organizational context; and a process model for analytics implementation together with a six-stage maturity model

Towards Design Principles for Data-Driven Decision Making: An Action Design Research Project in the Maritime Industry

Data-driven decision making (DDD) refers to organizational decision-making practices that emphasize the use of data and statistical analysis instead of relying on human judgment only. Various empirical studies provide evidence for the value of DDD, both on individual decision maker level and the organizational level. Yet, the path from data to value is not always an easy one and various organizational and psychological factors mediate and moderate the translation of data-driven insights into better decisions and, subsequently, effective business actions. The current body of academic literature on DDD lacks prescriptive knowledge on how to successfully employ DDD in complex organizational settings. Against this background, this paper reports on an action design research study aimed at designing and implementing IT artifacts for DDD at one of the largest ship engine manufacturers in the world. Our main contribution is a set of design principles highlighting, besides decision quality, the importance of model comprehensibility, domain knowledge, and actionability of results

Applied business analytics approach to IT projects – Methodological framework

The design and implementation of a big data project differs from a typical business intelligence project that might be presented concurrently within the same organization. A big data initiative typically triggers a large scale IT project that is expected to deliver the desired outcomes. The industry has identified two major methodologies for running a data centric project, in particular SEMMA (Sample, Explore, Modify, Model and Assess) and CRISP-DM (Cross Industry Standard Process for Data Mining). More general, the professional organizations PMI (Project Management Institute) and IIBA (International Institute of Business Analysis) have defined their methods for project management and business analysis based on the best current industry practices. However, big data projects place new challenges that are not considered by the existing methodologies. The building of end-to-end big data analytical solution for optimization of the supply chain, pricing and promotion, product launch, shop potential and customer value is facing both business and technical challenges. The most common business challenges are unclear and/or poorly defined business cases; irrelevant data; poor data quality; overlooked data granularity; improper contextualization of data; unprepared or bad prepared data; non-meaningful results; lack of skill set. Some of the technical challenges are related to lag of resources and technology limitations; availability of data sources; storage difficulties; security issues; performance problems; little flexibility; and ineffective DevOps. This paper discusses an applied business analytics approach to IT projects and addresses the above-described aspects. The authors present their work on research and development of new methodological framework and analytical instruments applicable in both business endeavors, and educational initiatives, targeting big data. The proposed framework is based on proprietary methodology and advanced analytics tools. It is focused on the development and the implementation of practical solutions for project managers, business analysts, IT practitioners and Business/Data Analytics students. Under discussion are also the necessary skills and knowledge for the successful big data business analyst, and some of the main organizational and operational aspects of the big data projects, including the continuous model deployment

From big data to big performance – exploring the potential of big data for enhancing public organizations’ performance : a systematic literature review

This article examines the possibilities for increasing organizational performance in the public sector using Big Data by conducting a systematic literature review. It includes the results of 36 scientific articles published between January 2012 and July 2019. The results show a tendency to explain the relationship between big data and organizational performance through the Resource-Based View of the Firm or the Dynamic Capabilities View, arguing that perfor-mance improvement in an organization stems from unique capabilities. In addition, the results show that Big Data performance improvement is influenced by better organizational decision making. Finally, it identifies three dimensions that seem to play a role in this process: the human dimension, the organizational dimension, and the data dimension. From these findings, implications for both practice and theory are derived