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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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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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.

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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