Our newly digital world is generating an almost unimaginable amount of data about all of us. Such a vast amount of data is useless without plans and strategies that are designed to cope with its size and complexity, and which enable organisations to leverage the information to create value. This book is a refreshingly practical, yet theoretically sound roadmap to leveraging big data and analytics.
Creating Value with Big Data Analytics provides a nuanced view of big data development, arguing that big data in itself is not a revolution but an evolution of the increasing availability of data that has been observed in recent times. Building on the authors’ extensive academic and practical knowledge, this book aims to provide managers and analysts with strategic directions and practical analytical solutions on how to create value from existing and new big data.
By tying data and analytics to specific goals and processes for implementation, this is a much-needed book that will be essential reading for students and specialists of data analytics, marketing research, and customer relationship management.
Table of Contents
1. Big Data Challenges 2. Creating Value using Big Data Analytics 2.1 Value to Customer Metrics 2.2 Value to Firm Metrics 3. Data, Data Everywhere 3.1 Data integration 3.2 Customer Privacy and Data Security 4. How Big Data is Changing Analytics 4.1. Classic Data Analytics 4.2. Big Data Analytics 4.3. Creating Impact with Storytelling and Visualization 5. Building Successful Big Data Capabilities 6. Every Business Has (Big) Data, Let’s Use It 7. Concluding Thoughts and Key-Learnings
Peter C. Verhoef is Professor of Marketing at the Department of Marketing, Faculty of Economics and Business, University of Groningen, The Netherlands. He also holds a visiting professorship in Marketing at BI Norwegian Business School in Oslo.
Edwin Kooge is co-founder of Metrixlab Big Data Analytics, The Netherlands. He is a pragmatic data-analyst, a result focused consultant, and entrepreneur with more than 25 years’ experience in analytics.
Natasha Walk is co-founder of Metrixlab Big Data Analytics, The Netherlands. She is a data-hacker, analyst, and talent coach with more than 20 years of experience in applied analytics.
‘This is a timely and thought-provoking book that should be on a must-read list of anyone interested in Big Data.’ - Sunil Gupta, Edward W. Carter Professor of Business, Harvard Business School, USA
‘Creating Value with Big Data Analytics offers a uniquely comprehensive and well-grounded examination of one of the most critically important topics in marketing today. With a strong customer focus, it provides rich, practical guidelines, frameworks and insights on how big data can truly create value for a firm.’ - Kevin Lane Keller, Tuck School of Business, Dartmouth College, USA
‘Big Data is the next frontier in marketing. This comprehensive, yet eminently readable book by Verhoef, Kooge and Walk is an invaluable guide and a must-read for any marketer seriously interested in using Big Data to create firm value.’ - Jan-Benedict E.M. Steenkamp, Massey Distinguished Professor of Marketing, Marketing Area Chair & Executive Director AiMark, Kenan-Flagler Business School, UNC-Chapel Hill
‘No longer can marketing decisions be made on intuition alone. This book represents an excellent formula combining leading edge insight and experience in marketing with digital analytics methods and tools to support better, faster and more fact-based decision-making. It is highly recommended for business leaders who want to ensure they meet customer demands with precision in the 21st century.’ - Morten Thorkildsen, CEO Rejlers, Norway; chairman of IT and communications company, Itera; former CEO, IBM Norway (2003-13); ex-chairman the Norwegian Computer Society (2009-13), and visiting lecturer Norwegian Business School
‘This book goes beyond the hype, to provide a more thorough and realistic analysis of how Big Data can be deployed successfully in companies; successful in the sense of creating value both for the customer as well as the company, as well as what the pre-requisites are to do so. This book is not about the hype, nor about the analytics, it is about what really matters: how to create value. It is also illustrated with a broad range of inspiring company cases.’ - Hans Zijlstra, Customer Insight Director, AIR FRANCE KLM
‘This is one of the most compelling publications on the challenges and opportunities of data analytics. It paints not only a theoretical framework, but also navigates marketing professionals on organizational change and development of skills and capabilities for success. A must read to unlock the full potential of data-driven and fact based marketing!’ - Harry Dekker, Media Director, Unilever Benelux, Netherlands
‘Big Data Analytics is among the hottest topics in marketing today. This very insightful book nicely translates academic insights in the area into actionable recommendations. A must-read for everyone working with (growing) marketing data.’ - Professor Dr M.G. Dekimpe, School of Economics and Management, Tilburg University, the Netherlands