Balducci et al. (2018): Unstructured Data in Marketing
14 important questions on Balducci et al. (2018): Unstructured Data in Marketing
In which parts of the roadmap fits this article?
What proposes the intergrative framework by Balducci et al. (2018)?
What are the three main contributions to the literature?
- Offering an unifying definition and conceptualization of UD in marketing
- Bridging disjoints literature with an organizing framework that synthesizes various subsets of UD relevant for marketing management
- Identifying substantive computational and theoretical gaps in extant literature
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
How can unstructured data (UD) be defined?
- 80% of data in firms is unstructured
Explain the figure wich is used in the paper by Balducci et al. (2018) about UD.
- Verbal can be distinguished between spoken and written UD
- Nonverbal can be distinguished between human and inanimate (levenloos: geographic) UD
What are examples of (highly) unstructured data and (highly) structured data?
- Video data
- Image data
- Nonverbal data (like facial cues)
- Text data
- Voice data
Structured data (from highly to medium):
- Numeric secondary data
- Categorial data
- Geographic data
- RFID data
- Survey data
Leveraging UD for unique theoretical insight
There are three general categories of theoretical contribution that can be derived from UD to create, communicate, and deliver value to customers. Which ones are those?
- Information transmission (encoding information, process of value communication to customers)
- Advertising and promotions
- Social media and social communication
- Information processing (customers receive message, process of decoding or processing the information)
- Managing channels
- Personal selling and sales management
- Retail management
- Service management
- Information extraction (process of extracting information from the message, dependent on context and culture)
The customer journey has become shorter and more complex, rendering the traditional purchase funnel inadequate and thereby increasing the need for ....
Why is delivering value to customers during information processing crucial in service contexts?
- Especially because the rise of smart technologies changes the nature of customized service delivery by substituting or complementing FLEs (frontline employees)
- And UD analysis can unlock new insights in this area
Which kind of research reflects the most recent era in the digital revolution?
Firms create value by capturing marketing insights on
social media through two primary approaches, which ones?
- Mining UGC to listening
- Using UGC for forecasting
What are the central marketing capabilities according to Moorman & Day (2016)?
- Brand management
- Strategic leverage of brand equity
For what is UD used in marketing research and why is this helpful?
- Reveal how customers extract information from specific brand attributes
- Practitioners can determine which attributes create value for consumers
Which five conclusions can be drawn from the paper by Balducci et al. (2018)?
- Analysis of UD also is reshaping business practices in many industries
- UD analysis and implementation eventually may have a prominent presence in every department of organizations
- UD enables practitioners to examine phenomena at more granular levels to understand the process by which behaviors shape business outcomes.
- Despite the promise that UD hold for improving value creation and exploring new business opportunities , their increased volume remains mostly untapped (onbenut) by firms
- A notable reason for this lag is that only one-quarter of firms surveyed claimed to have the internal competencies to analyze UD
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