Value creation with information systems
17 important questions on Value creation with information systems
What is the role of IS while looking at the five competitive forces of porter?
- Can the use of IT raise or increase bariers to entry in the industry?
- Can the use of IT decrease suppliers bargaining power?
- Can the Use of It decrease buyers bargaining power?
- Can the use of IT change the basis of industry competition?
What are primary and secondary activities?
Secondary activitities are NOT directly related to the transformation process
What is the linkage between the value chain processes and IT?
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What is the objective of the customer service life cycle?
to identify the stages where customers are unsatisfied or receive substandard service and provide ideas how to improve the service with IS
What is the virtual value chain?
What are the five activities of the Virtual value chain?
- Gather information; collect data from transaction systems
- Organize; store data in a way that make analysis simple
- Select; users identify and extract the data from the storage
- Synthesize; the firm packages the selected information so that is ready to be used by the intended customer with a specific purpose
- Distribute; the firm transfers its packaged information to the intended user or customer
What are the three classes of strategic initiatives?
- Visibility; ability to "see through" organizational processes, previously treated as blackbox. for ex; ordering proces on a website (data), inventroory stock of an vending machine
- Mirroring capabilities; ability to transform physical activities into information-based ones which gains in efficiency, effectiveness and performance. For example; computer estimated models like testing, like transfering information (books o.i.d.)
- New digital value; using the information from the processes to create a better relationship with the customer and increase their willingness to pay. Creating new value in the form of new information enabled products or services (for ex. spotify suggestion features)
What is the value matrix?
What is the theoretical repurchase frequency?
What is the degree of customizability?
What are the four customer data strategies?
- Rewards strategy
- Personalization
- Low payoff
- Acquisition strategy
What is personalization strategy?
significant individual level data because of the repeated interations. The customers are returning.
What is reward strategy?
What is acquisition strategy?
Make profiles of current customers to identify new ones.Avoid unprofitable or marginal customers
What is the no potential / low pay-off strategy?
What is unobtrustive data capture?
How can you prioritize data-driven strategies?
- Upside potential; an assessment of the financial benefits in terms of revenue lift or cost reduction. depends on: time, impact, aggregration and trending requirements.
- Data availability; an assessement of the immediacy of which the iniatiave can be implemented and a measure of the costs associated with it.
Depends on: accuracy (is the data reliable?) and comprehensiveness ( is the data complete and free of missing elements?)
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