Making Sense of Big Data – Transforming Data Into Tangible Strategy
|Projekttitel||Making Sense of Big Data – Transforming Data Into Tangible Strategy|
|Projekttype||Anvendt forskning og udvikling|
|Teaser||This research project seeks to explore the connection between the strategy of the company, and their use of Big Data sources.|
|- Akademi||Erhvervsakademi Dania|
|- Kontaktperson||Henrik Sølvbjerg Pahus
|Projektperiode||01. januar 2020 - 31. januar 2023|
Transforming data into tangible strategy
Transforming data and making sense of Big Data is the main purpose of this project.
The purpose of this project is to formulate a model, which will enable companies to transform the massive amount of information that is to be gained from various Big Data sources, into a tangible strategy. The output of this project will focus on generating solutions to companies from the hospitality sector, on how to apply knowledge from Big Data sources into their business model.
There are various approaches to creating a model that deals with the usage of information from Big Data. One might argue that since Big Data is primarily a technical topic. One ought to pursue a framework that puts focus on a technical model that centers on how to “crunch” the data more efficiently. Or how to make algorithms that more accurately help to calculate outcomes. Our focus will be on developing a strategic model that companies can use when working with Big Data as a business model.
The focus area of this review is the hospitality sector. We are also aiming at putting a broader view on the concept of Big Data. This will yield a holistic understanding of current research within the area. Hopefully it will help us in our further research. The model it is intended to develop will also be useful for a wide range of companies outside the hospitality sector.
As with all research projects, we have for a long time been curious about a specific topic (in this case Big Data). Especially how to use Big Data in different sizes of companies. Therefore we aplied for and recieved funding to do a Literature Review in the fall of 2019. We then delved into the research that has been done in this area. The focus was not on the technical side of Big Data. But then and today, it is about how to strategically use and understand Big Data. In connection with our Literature Review, I was in Shanghai myself in October 2019. I visited Chinese companies using Big Data in their business model. I learned how they operationalize Big Data in their daily business operations.
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|- Baggrund og formål||
As with all research projects, we have for a long time been curious about a specific topic (in this case Big Data), and especially how to use Big Data in companies of different sizes. We therefore got funding to do a Literature Review in the fall of 2019, where we delved into the research that has been done within the field. The focus was, and is, not the technical side of Big Data, but more about how to strategically apply and understand Big Data. In connection with our Literature Review, I was in Shanghai myself in October 2019, to visit Chinese companies using Big Data in their business model and learn how they operationalize Big Data in their daily business operations.
Our overall conclusion, both in the literature review + visit to China, is that while we know a great deal about the technical side of Big Data, we have not yet come a long way in working with the strategic side of Big Data: How to use Big Data information in the business operations, and how it can have an impact on how we, for example, work with segmentation, innovation, management and many other areas in daily operations.
The overall purpose is thus to create a model for how companies within the hospitality sector and beyond can work strategically with Big Data as part of their overall business strategy.
|- Aktiviteter og handling||
Fall 2020 + spring 2021
|- Projektets Metode||
The research design is going to be strictly qualitative
Initially, we will do in-depth interviews with some of the experts within the field of Big Data in Europe. The interviews will be conducted with researchers, experts from the industry and the leaders who use and interpret the data.
Secondly, we will do a case study in terms of analyzing real data from hotels in a European context
Thirdly, based on the above, our aim is to formulate a cohesive strategic model that companies might apply when working with Big Data as part of their business model.
|- Projektets Forventede Resultater||
We expect to be able to develop a model that companies can use for working strategically with Big Data.
During the project we will develop papers and rapports to the companies involved, so that our knowledge is both disseminated to the academic world, and to the business sector.
|- Projektets Forventede Effekt||
Knowledge on how to use Big Data strategically in various types on companies. This is very relevant, since there is currently no cohesive strategy that deals with that.
|- Medarbejdere||Making Sense of Big Data – Transforming Data Into Tangible Strategy |
Lars Hoelgård Sunesen
|Partnere||Destination Limfjorden | Erhvervsakademi Sydvest | Primo Tours|
|- Resultatets formidling|
|- Resultaternes værdi|
|- Publikationer||Anden artikel
Peer rev. Artikel