social media, big data and new business models

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+

To support research to

rapidly realise the

transformational impact of

digital technologies on

aspects of community life,

cultural experiences,

future society, and the

economy

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Sustainable Society

IT as a Utility

Communities and Culture

New Economic Models

UK HEIs

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

• 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?

Business models in the digital economy

Taxonomising Business Models in the DE

• How is digital affecting

business models?

• What does the DE/Big Data

business model look like on

the inside?

• How does a taxonomy of DE

Business Models differ

across sectors?

Internal artefacts

Relational mechanisms

External stakeholders

VP Channels Customer relationships

Customer segments

VCr Resources Processes

Key partnerships

VCa Cost structure

Revenue streams

A search for examples of the effect of DE on Business Models

NEMODE retail observatory

Technological diversity • Digital based signage

• Location analytics

• Experience measurement

systems

• Micro mobility marketing

• Recommender systems

• Smart PSAs

Possible research themes: • 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

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What is the nature of SM/BD practices supporting firm's journey to sustainability?

• 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:

[email protected]

Key messages