Published on March 4, 2014
Social Media, Big Data and New Business Models Richard Adams, NEMODE February, 2014
Agenda • NEMODE: New Economic MOdels in the Digital Economy • NEMODE as an enabler • NEMODE connecting into UK HEIs • Research opportunities: general and specific • Taxonomising the business models of the digital economy • Service science: digitising a retail observatory • Social media and big data facilitating the sustainable organisation
Network+ Sustainable for This area IT as a Utility Society pictures/charts/tables,e tc Communities and Culture New Economic Models To support research to rapidly realise the transformational impact of digital technologies on aspects of community life, cultural experiences, future society, and the economy
NEMODE: Interests and Support Research themes • • • New E/B Models (taxonomy, form, flexibility…) Sectorally agnostic Aspects of DE impacting Business Models – Big data – Social media – Human computer interaction – Gamification – Entrepreneurialism and DE – Pervasive / ubiquitous computing – Security, privacy and trust – Value creation and capture – Data ‘productisation’ – Analytics Funding available for • • • • • • • Open call (£3k) Workshops (£4k) International speakers (T&S) Placements/secondment (£12k) Start-up support (£20k) Pilot studies (£50k) …
Related DE Projects - NEMiNDE • Professor I Ng, University of Warwick: Home Hub-of-all-Things (HAT) as Platform for Multi-sided Market powered by Internet-of-Things: Opportunities for New Economic & Business Model • Dr A Leiponen, Imperial College London: Catalysing economic growth: releasing the value of big data • Dr J Cox, University of Portsmouth: The wonders of the Zooniverse: Modelling and optimising volunteer participation in online citizen science • Professor P Cowling, University of York: NEMOG: New Economic Models and Opportunities for digital Games • Professor mc schraefel, University of Southampton: Meaningful Consent in the Digital Economy • Professor C Baden Fuller, City University London: Building Better Business Models: Capturing the Transformative Potential of the Digital Economy • Dr T Minshall, University of Cambridge: Bit by bit: Capturing the value from the digital fabrication revolution • Dr T Preis, University of Warwick: Big Data, Innovations and New Business Models
Business models in the digital economy • Incumbent players rarely do well when industries get disrupted • Digital threatens ’analogue’ business models • What are business models? • Stories that explain how enterprises work • Focus on value: VP, VCr, VCa • What do business models consist of? • ≥ 100 components • Resources and assets to suppliers and customer information, distribution mechanisms to governance… • Big questions: • How does big data impact the business model of a firm? • How do business model components configure?
Taxonomising Business Models in the DE A search for examples of the effect of DE on Business Models Internal artefacts Relational External mechanisms stakeholders • How is digital affecting business models? Channels Customer relationships VP VCr VCa Resources Processes Cost structure Customer segments Key partnerships Revenue streams • What does the DE/Big Data business model look like on the inside? • How does a taxonomy of DE Business Models differ across sectors?
NEMODE retail observatory Technological diversity Possible research themes: • Digital based signage • Location analytics • Experience measurement systems • Micro mobility marketing • Recommender systems • Smart PSAs • Eliminating silos between digital and bricks & mortar offers • Digital push vs digital pull • Omni-channel retailing • Role of UGC & in-store apps • Customer journey, the buying decision • … Areas for collaboration: • Advisory group • Instrumenting the shop and data management • Research collaborations with UK HEIs, NSF, ISSIP
This area for large pictures/charts/tables,etc with one line captioning. What is the nature of SM/BD practices supporting firm's journey to sustainability?
Key messages • NEMODE as an enabler of research in DE • Focus on how DE is affecting BMs and EMs • Connections into a diverse and growing community of UK DE researchers • Wide range of research collaboration opportunities Contact: firstname.lastname@example.org
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