• Explain the emergence of Big Data and what Big Data is (i.e., structured/ unstructured) from the perspectives of the nine V's (Viewpoint, Volume, Variety, Velocity, Veracity, Validity, Visually, Volatility, and Value) and how each V contributes to business insights.
• Identify and explain how structured/unstructured data, including internet of things (IoT) might improve internal processes, logistics, and supply chain as well as insights into strategic processes and thereby reduce costs for both the organization and customers/clients/patients.
• Analyze and explain how structured/unstructured data might help improve strategic customer insights, and thereby create value for both an organization and its customers/clients.
• Explain how the strategic use of Big Data technology, analytics, and dashboard might lead to innovative and potentially disruptive ideas (including platforms, co-creation etc.).
• Explain the role of social media in sensing and connecting with consumers (including the theoretical underpinnings of sentiment analysis, crowdsourcing, CRM, etc.).
• Explain the usefulness of insights from neuro-science methods (EEG, eye-tracking, fMRI) and the senses (e.g., embodied cognitions), and what type of consumer insights each method provides.
• Explain what Small (Qualitative) Data is and why this is useful for business development, including the theoretical underpinning of consumer semi-subconscious drivers.
• Explain the socio-psychological underpinnings of managerial mindsets, including why mindsets are so influential as well as difficult to change, and how different managerial mindsets lead to different strategic orientations and decisions.
• Explain the theoretical distinction between technology and mindset determinism, and how the two domains might both contribute to and/or obstruct innovative ideas.
• Identify and discuss legal and ethical considerations related to the collection and use of data.
• Analyze and explain organizational theories on organizational challenges to the use of Big Data and different managerial mindsets (e.g., resistance, resources, incentive structure, skillsets, buy-in, motivational issues), and why organizations are located on various paths toward achieving digital maturity, and how to overcome these challenges.
• Present clear and coherent arguments for your selection of key theories and models to address the exam question, and follow academic conventions in your written presentation.

Big and Small Data 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, still less than a one-third of companies that invest in Big Data technology benefit financially from it. Studies show that companies that benefit have a clear alignment between their own mindset and customers' mindsets (related to expectations of companies). These 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 apply Big Data technology as a simple extension of their existing strategic orientation, i.e., managerial mindset, rather than rethinking their ‘way of thinking’ and their interaction with the marketplace.

Applying Big and Small Data demands both technological savviness and changes to managers’ existing mindsets. Otherwise, they risk ending up being expensive old companies, because managers are stuck in old thought patterns and silo thinking. Thus, to fully benefit from this new digital technology, managers need to be open for new ways to perspectivize the market. To utilize data about the customers optimally and make them part of the company’s DNA often requires radically new thinking. As such, disruptive innovations are quite dependent on both a disruptive mindset and disruptive technology. We look at how companies best deal with this challenge.  

Aim of the Course

The aim is that students 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 cognitive approach by emphasizing the importance of mindsets in the usage of data. The analytical part will be covered in ‘Business Intelligence and Customer Insight’ during the second semester.

Indicative literature (more literature will be announced upon enrollment):

Required Book

Rydén, Ringberg, Østergaard-Jacobsen (2017) Disrupt your Mindset to Transform your Business with Big Data.