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
Frascati Ja
Tema Business
Teaser This research project seeks to explore the connection between the strategy of the company, and their use of Big Data sources.
Status Igangværende
Ejer  
- Akademi Erhvervsakademi Dania
- Kontaktperson Henrik Sølvbjerg Pahus
Lektor
hpa@eadania.dk
61953508
Nat./Int. Nationalt
Projektperiode 01. januar 2020 - 31. januar 2023
Projektbeskrivelse  
- Projektresumé

 

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, however, will be on developing a strategic model that companies can use when working with Big Data as part of their business model.

Even though the focus area in 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, and hopefully help us in our further research. Likewise, the model that we intend to develop would also be useful for a wide range of companies outside the hospitality sector.

- Baggrund og formål

Background

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

Autumn 2019: Literature review and paper for CHME

 

Spring 2020:

  • Development of questionnaire for qualitative interviews
  • Conducting qualitative interviews with experts, researchers and other knowledge persons on the application of Big Data in the field of adventure parks.

 

Fall 2020

  • Transcription and analysis of qualitative interviews
  • Conclusions on qualitative interviews and how this knowledge can be transferred to Destination Limfjorden

 

Spring 2021

  • Development of quantitative analysis + supplementary questionnaire for follow-up qualitative interviews with key individuals from companies working with Big Data in their business model
  • Conducting quantitative analysis. Shipped to relevant companies in DK, Europe, USA and China

 

Autumn 2021

  • Analysis of quantitative results + follow-up qualitative interviews
  • How can this knowledge be transferred to Destination Limfjorden

 

Spring 2022 + Fall 2022

  • Linking qualitative results with quantitative results
  • Developing a model / strategy for how companies can use Big Data more effectively in their business model
- Projektets Metode

The research design is going to be an explanatory sequential mixed-methods design.

 

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 are going to conduct a questionnaire with some of the companies that are currently using Big Data as part of their business model.

 

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.

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Deltagere  
- Studerende Erhvervsakademi Dania
  • - Bachelor in International Hospitality Management, Randers (27)
- Medarbejdere Making Sense of Big Data – Transforming Data Into Tangible Strategy
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Partnere Destination Limfjorden | Primo Tours
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