From Big Data to Big Profits
Success with Data and Analytics
Published on 10. September 2015
Book
Hardback
312 pages
978-0-19-937832-6 (ISBN)
Description
Vast holdings and assessment of consumer data by large companies are not new phenomena. Firms' ability to leverage the data to reach customers in targeted campaigns and gain market share is, and on an unprecedented scale. Major companies have moved from serving as data or inventory storehouses, suppliers, and exchange mechanisms to monetizing their data and expanding the products they offer. Such changes have implications for both firms and consumers in the coming years.
In Success with Big Data, Russell Walker investigates the use of internal Big Data to stimulate innovations for operational effectiveness, and the ways in which external Big Data is developed for gauging, or even prompting, customer buying decisions. Walker examines the nature of Big Data, the novel measures they create for market activity, and the payoffs they can offer from the connectedness of the business and social world. With case studies from Apple, Netflix, Google, and Amazon, Walker both explores the market transformations that are changing perceptions of Big Data, and provides a framework for assessing and evaluating Big Data. Although the world appears to be moving toward a marketplace where consumers will be able to "pull" offers from firms, rather than simply receiving offers, Walker observes that such changes will require careful consideration of legal and unspoken business practices as they affect consumer privacy.
Rigorous and meticulous, Success with Big Data is a valuable resource for graduate students and professionals with an interest in Big Data, digital platforms, and analytics.
In Success with Big Data, Russell Walker investigates the use of internal Big Data to stimulate innovations for operational effectiveness, and the ways in which external Big Data is developed for gauging, or even prompting, customer buying decisions. Walker examines the nature of Big Data, the novel measures they create for market activity, and the payoffs they can offer from the connectedness of the business and social world. With case studies from Apple, Netflix, Google, and Amazon, Walker both explores the market transformations that are changing perceptions of Big Data, and provides a framework for assessing and evaluating Big Data. Although the world appears to be moving toward a marketplace where consumers will be able to "pull" offers from firms, rather than simply receiving offers, Walker observes that such changes will require careful consideration of legal and unspoken business practices as they affect consumer privacy.
Rigorous and meticulous, Success with Big Data is a valuable resource for graduate students and professionals with an interest in Big Data, digital platforms, and analytics.
Reviews / Votes
"Russell Walker's important book is not just about Big Data, but how to monetize all your data. It's an essential guide to competing in the data economy and developing analytics-based products and services." Thomas H. Davenport, Distinguished Professor of IT and Management, Babson College, and Author of Competing on Analytics and Big Data at Work "Few companies have truly mastered the art of deriving value from Big Data. In From Big Data to Big Profits, Walker provides excellent advice on how to leverage Big Data to improve your business. This book dives deeply into monetization strategies for Big Data and provides many examples of how it works. From creating data products to forming a data exchange, this book explains how others have succeeded and provides advice on how to get started. The time spent reading the book is well worth it!" Bill Franks, Chief Analytics Officer, Teradata and author of Taming the Big Data Tidal Wave and The Analytics Revolution "Packed with current case studies and examples, Russell shows where the money is in Big Data!" Jeff Tanner, Dean, Strome College of Business, Old Dominion University "Professor Walker's book takes a unique perspective by concentrating on the value of Big Data and the underlying monetization strategies and use cases. The book discusses modern sources of data and the underlying business opportunities backed by cases from innovative companies with entrenched data strategies. The concept of data fusion stands out as a strategy to benefit from data sources coming from a variety of different players. Equally impressive is the SIGMA scoring framework that positions a company with regard to Big Data readiness. I strongly recommend this book for anyone looking to innovate and influence Big Data decision-making." Diego Klabjan, Professor and Director, Master of Science in Analytics Program, Northwestern University "Walker does a wonderful job of describing the business relevance of the exploding range of new data sources, detailing how they can be 'fused' into unprecedented 'measurement data' about almost any aspect of the business environment and used to create highly differentiated new products and services." Blake Johnson, Consulting Professor, Management Science & Engineering, Stanford University and Founder, Aztral, Inc.More details
Language
English
Place of publication
New York
United States
Target group
College/higher education
Professional and scholarly
Dimensions
Height: 240 mm
Width: 161 mm
Thickness: 21 mm
Weight
634 gr
ISBN-13
978-0-19-937832-6 (9780199378326)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
E-Book
07/2015
1st Edition
OUP eBook
€51.49
Available for download
E-Book
07/2015
1st Edition
OUP eBook
€51.49
Available for download
Person
Russell Walker, Ph.D. is Clinical Associate Professor at the Kellogg School of Management, Northwestern University. Russell Walker has developed and taught leading executive programs on Big Data and Analytics, Strategic Data-Driven Marketing, Risk Management, and Global Leadership. He founded and teaches the popular Analytical Consulting Lab, which brings Kellogg MBAs together with real-world projects in Analytics and the use of Big Data. His is the author of the award-winning text Winning with Risk Management and had also authored many popular business cases. He received his Ph.D. from Cornell University, where he studied catastrophic risk analysis. He also holds an MS from Cornell University, an Executive MBA from the Kellogg School of Management of Northwestern University. Dr. Walker consults with firms on the topics of Big Data and Analytics, Risk Management, and International Business Strategy.
Content
Chapter 1: What is "Big Data?" ; Chapter 2: Benefits of Scale and Velocity in Big Data - The Movement to Now! ; Chapter 3: Big Data Expands with Passive Data Capture ; Chapter 4: Novel Measures in Market Activity: Direct vs. Indirect Measurement ; Chapter 5: Precision in Data: New Possibilities for Mass Customization and Location-Based Services ; Chapter 6: Data Fusion, Combining Data to Produce Economic Value ; Chapter 7: Strategies for Monetizing Big Data ; Chapter 8: Monetizing Big Data Through Productization and Data Inverting ; Chapter 9: Impact of Analytics and Big Data on Corporate Culture and Recruitment ; Chapter 10: Stimulating Innovation through Big Data ; Chapter 11: Disrupting Business Models with New Data from Location-Based Services ; Chapter 12: Protecting Data Assets ; Chapter 13: Future Trends in Big Data ; Chapter 14: Getting Started: SIGMA Framework for Implementing a Big Data Strategy: From Big Data to Big Profits