Mijn lesaantekeningen - Big Data - Extending the Business Strategy - Woerner & Wixom
11 important questions on Mijn lesaantekeningen - Big Data - Extending the Business Strategy - Woerner & Wixom
How do the writers qualify the 'Big Data' label?
- Volume
- Velocity
- Variety
- Veracity
Why does digitisation create challenges for most companies?
What are the novel ways in which big data supports the measurement and monitoring of strategy?
- New data
- New insight
- New action
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What is an example of how New Insight can improve the business model?
The success came not from big data itself, but new apporaches.
How does 'New Action' contribute to business model improvement?
For example, NBC Universal makes changes to their television programming in response to real time customer sentiment, in the past this would take weeks
What are the two approaches mentioned through which companies try and find ways to Innovate their business model?
Data Monetisation
Digital Transformation
What are the ways that companies are monetising data?
- Selling (receiving money/legal tender in exchange for information offerings)
- Bartering (Trading information for, eg tools, services, special deals)
- Wrapping (wrapping information around other core products and services)
What is an example of companies that use Bartering as Data Monetisation Technique?
What is an example of the data monetisation technique of 'Wrapping'?
eg; UPS wraps to enhance package delivery
What is meant with 'Digital Transformation'?
What is an example of digital transformation and the blurring of company boundaries due to big data?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
