Transforming Data into New B2B Business Opportunities

    Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

    Abstract

    Purpose – Exploiting data is an increasingly important source of competitive advantage for companies. However, identifying the benefits of data utilization in new business creation may be difficult for B2B companies that are not familiar with the field and are only just establishing their data strategy. The main research question of this paper is: “What kind of different ways are there to transform data into new B2B business opportunities?”

    Design/methodology/approach – The data of the qualitative case study (Yin, 2003) was collected during 2017 - 2018 from 22 semi-structured theme interviews with seven different companies. The case companies were selected while they were in different stages of data strategy implementation (from beginners to advanced as data utilizers). The results of the interviews were discussed in three different workshops with company and researcher representatives.

    Originality/value – Current research about data utilization and strategies is often analytical in nature, focusing on e.g. algorithms and modelling techniques (Sivarajah et al., 2017). This paper describes practical benefits and presents six different ways to utilize data in new B2B business creation.

    Practical implications – The paper helps practitioners to benchmark other companies and to provide feedback to managers for establishing their data strategy and developing their data-driven business successfully in practice. It also helps researchers see the utilization of data in new business creation in a broader context including the B2B business and strategic decision-making viewpoints.

    Original languageEnglish
    Title of host publicationProceedings IFKAD 2018, Delft, Netherlands 4-6 July 2018
    Subtitle of host publicationSocietal Impact of Knowledge and Design
    Number of pages14
    Publication statusPublished - 5 Jul 2018
    MoE publication typeNot Eligible
    Event13th International Forum on Knowledge Asset Dynamics, IFKAD 2018 - Delft, Netherlands
    Duration: 4 Jul 20186 Jul 2018

    Conference

    Conference13th International Forum on Knowledge Asset Dynamics, IFKAD 2018
    Abbreviated titleIFKAD
    CountryNetherlands
    CityDelft
    Period4/07/186/07/18

    Fingerprint

    New business
    Design methodology
    Managers
    Benchmark
    Strategic decision making
    Modeling
    Strategy implementation
    Competitive advantage

    Keywords

    • big data
    • data-driven business
    • data strategy
    • new business creation
    • B2B
    • data business strategy

    Cite this

    Rantala, T., Palomäki, K., & Valkokari, K. (2018). Transforming Data into New B2B Business Opportunities. In Proceedings IFKAD 2018, Delft, Netherlands 4-6 July 2018: Societal Impact of Knowledge and Design
    Rantala, Tuija ; Palomäki, Katariina ; Valkokari, Katri. / Transforming Data into New B2B Business Opportunities. Proceedings IFKAD 2018, Delft, Netherlands 4-6 July 2018: Societal Impact of Knowledge and Design. 2018.
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    abstract = "Purpose – Exploiting data is an increasingly important source of competitive advantage for companies. However, identifying the benefits of data utilization in new business creation may be difficult for B2B companies that are not familiar with the field and are only just establishing their data strategy. The main research question of this paper is: “What kind of different ways are there to transform data into new B2B business opportunities?” Design/methodology/approach – The data of the qualitative case study (Yin, 2003) was collected during 2017 - 2018 from 22 semi-structured theme interviews with seven different companies. The case companies were selected while they were in different stages of data strategy implementation (from beginners to advanced as data utilizers). The results of the interviews were discussed in three different workshops with company and researcher representatives.Originality/value – Current research about data utilization and strategies is often analytical in nature, focusing on e.g. algorithms and modelling techniques (Sivarajah et al., 2017). This paper describes practical benefits and presents six different ways to utilize data in new B2B business creation.Practical implications – The paper helps practitioners to benchmark other companies and to provide feedback to managers for establishing their data strategy and developing their data-driven business successfully in practice. It also helps researchers see the utilization of data in new business creation in a broader context including the B2B business and strategic decision-making viewpoints.",
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    Rantala, T, Palomäki, K & Valkokari, K 2018, Transforming Data into New B2B Business Opportunities. in Proceedings IFKAD 2018, Delft, Netherlands 4-6 July 2018: Societal Impact of Knowledge and Design. 13th International Forum on Knowledge Asset Dynamics, IFKAD 2018, Delft, Netherlands, 4/07/18.

    Transforming Data into New B2B Business Opportunities. / Rantala, Tuija; Palomäki, Katariina; Valkokari, Katri.

    Proceedings IFKAD 2018, Delft, Netherlands 4-6 July 2018: Societal Impact of Knowledge and Design. 2018.

    Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

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    T1 - Transforming Data into New B2B Business Opportunities

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    AU - Palomäki, Katariina

    AU - Valkokari, Katri

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    N2 - Purpose – Exploiting data is an increasingly important source of competitive advantage for companies. However, identifying the benefits of data utilization in new business creation may be difficult for B2B companies that are not familiar with the field and are only just establishing their data strategy. The main research question of this paper is: “What kind of different ways are there to transform data into new B2B business opportunities?” Design/methodology/approach – The data of the qualitative case study (Yin, 2003) was collected during 2017 - 2018 from 22 semi-structured theme interviews with seven different companies. The case companies were selected while they were in different stages of data strategy implementation (from beginners to advanced as data utilizers). The results of the interviews were discussed in three different workshops with company and researcher representatives.Originality/value – Current research about data utilization and strategies is often analytical in nature, focusing on e.g. algorithms and modelling techniques (Sivarajah et al., 2017). This paper describes practical benefits and presents six different ways to utilize data in new B2B business creation.Practical implications – The paper helps practitioners to benchmark other companies and to provide feedback to managers for establishing their data strategy and developing their data-driven business successfully in practice. It also helps researchers see the utilization of data in new business creation in a broader context including the B2B business and strategic decision-making viewpoints.

    AB - Purpose – Exploiting data is an increasingly important source of competitive advantage for companies. However, identifying the benefits of data utilization in new business creation may be difficult for B2B companies that are not familiar with the field and are only just establishing their data strategy. The main research question of this paper is: “What kind of different ways are there to transform data into new B2B business opportunities?” Design/methodology/approach – The data of the qualitative case study (Yin, 2003) was collected during 2017 - 2018 from 22 semi-structured theme interviews with seven different companies. The case companies were selected while they were in different stages of data strategy implementation (from beginners to advanced as data utilizers). The results of the interviews were discussed in three different workshops with company and researcher representatives.Originality/value – Current research about data utilization and strategies is often analytical in nature, focusing on e.g. algorithms and modelling techniques (Sivarajah et al., 2017). This paper describes practical benefits and presents six different ways to utilize data in new B2B business creation.Practical implications – The paper helps practitioners to benchmark other companies and to provide feedback to managers for establishing their data strategy and developing their data-driven business successfully in practice. It also helps researchers see the utilization of data in new business creation in a broader context including the B2B business and strategic decision-making viewpoints.

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    Rantala T, Palomäki K, Valkokari K. Transforming Data into New B2B Business Opportunities. In Proceedings IFKAD 2018, Delft, Netherlands 4-6 July 2018: Societal Impact of Knowledge and Design. 2018