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Social Media, Big Data and New Business Models
Richard Adams, NEMODE SRF 6 February, 2014
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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
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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
This area for pictures/charts/tables,etc
Sustainable Society IT as a Utility
Communities and Culture
New Economic Models
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UK HEIs
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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)• …
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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
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• 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
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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 ChannelsCustomer relationships
Customer segments
VCr ResourcesProcesses
Key partnerships
VCa Cost structure Revenue streams
A search for examples of the effect of DE on Business Models
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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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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?
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• 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:
Key messages