Big Data Com­mer­cial Strategies

Course content

Big Data and AI as well as new managerial mindsets have the potential to revolutionize the art of management and marketing. Yet, in spite of its high operational and strategic impacts, less than a one-third of companies that invest in Big Data and AI technologies benefit financially from it. In fact, studies show that companies that benefit the most have a clear alignment between their strategic mindset and customers' mindsets (related to their expectations of companies). The latter companies have a strategic approach to collecting, processing, sharing, and proactively using data both internally (i.e., logistically) and externally (i.e., value creation) across relevant contact points with stakeholders, including customers. The companies that typically fail are the ones that use Big Data and AI technologies as simple extensions of their existing strategic orientation rather than exploring new available opportunities to engage with the market.Otherwise, they risk ending up being expensive old companies, because managers are stuck in old thought patterns and silo thinking. In addition, we look at how deep qualitative data (Small Data) also might help innovate companies' existing strategic mindsets

Thus, to fully benefit from new digital technologies, managers need both to appreciate what type of data might be useful and what the market prefer in terms of type of engagement. To attain disruptive innovations companies typicaly need to embrace both a disruptive strategic mindset and use new disruptive technologies. We look at how companies best deal with this challenge.  

Aim of the Course

The aim is for students to appreciate how Big and Small Data as well as managerial mindsets can be used to improve/transform both internal procedures (logistics, production etc.) and external market interaction in B2B and B2C settings.

The course prepares students to work conceptually with many types of data (e.g., structured/unstructured, big/small) and to assess the usefulness of such data to address a given managerial task (e.g., logistics, consumer value, unique positioning). It provides the basis for developing insights into how managerial mindsets both enable/prevent managers from identifying potential disruptive opportunities from data. Finally, it sensitizes students to identify organizational and structural challenges that slow down digital transformation/maturity and how to overcome these. The course prepares students for an exciting career in digital and strategic marketing. The course does not require any technical expertise in terms of an IT or data analytics background.    

Course Progression

Big (and Small) Data Commercial Strategies is a foundation course in the study program.

Disclaimer: This course will not embark on the analytical side of (big) data analytics, but rather take a conceptual approach to understanding mindsets, the use of data, and new digital technologies. A more analytical focus will be part of the ‘Business Intelligence and Customer Insight’ course during the second semester.