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Combining big data and lean startup methods for business model evolution

Published on Dec 1, 2017
· DOI :10.1007/s13162-017-0104-9
Steven H. Seggie10
Estimated H-index: 10
(ESSEC Business School),
Emre Soyer5
Estimated H-index: 5
(Özyeğin University),
Koen Pauwels30
Estimated H-index: 30
(NU: Northeastern University)
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Abstract
Abstract The continued survival of firms depends on successful innovation. Yet, legacy firms are struggling to adapt their business models to successfully innovate in the face of greater competition from both local and global startups. The authors propose that firms should build on the lean startup methodology to help adapt their business models while at the same time leveraging the resource advantages that they have as legacy corporations. This paper provides an integrated process for corporate innovation learning through combining the lean startup methodology with big data. By themselves, the volume, variety and velocity of big data may trigger confirmation bias, communication problems and illusions of control. However, the lean startup methodology has the potential to alleviate these complications. Specifically, firms should evolve their business models through fast verification of managerial hypotheses, innovation accounting and the build-measure-learn-loop cycle. Such advice is especially valid for environments with high levels of technological and demand uncertainty.
  • References (61)
  • Citations (2)
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References61
Newest
Published on Jan 1, 2017in GfK Marketing Intelligence Review
Neus Andreas1
Estimated H-index: 1
,
Buder Fabian1
Estimated H-index: 1
,
Galdino Fernando1
Estimated H-index: 1
3 Citations Source Cite
Published on Dec 1, 2016in International Journal of Research in Marketing 3.32
Koen Pauwels30
Estimated H-index: 30
(Özyeğin University),
Ceren Demirci1
Estimated H-index: 1
(Özyeğin University)
+ 1 AuthorsShuba Srinivasan20
Estimated H-index: 20
(BU: Boston University)
Rooted in the integrated marketing communication framework, this paper conceptualizes how brand familiarity affects online and cross-channel synergies. The empirical analysis uses Bayesian vector autoregressive models to estimate long-term elasticities for four brands. The authors distinguish customer-initiated communication (typically online) from firm-initiated communication (typically offline). Their results indicate that within-online synergy is higher than online–offline synergy for both fa...
10 Citations Source Cite
Published on Nov 1, 2016in Journal of Marketing 7.82
Dominique M. Hanssens36
Estimated H-index: 36
(UCLA: University of California, Los Angeles),
Koen Pauwels30
Estimated H-index: 30
(Özyeğin University)
AbstractMarketing departments are under increased pressure to demonstrate their economic value to the firm. This challenge is exacerbated by the fact that marketing uses attitudinal (e.g., brand awareness), behavioral (e.g., brand loyalty), and financial (e.g., sales revenue) performance metrics, which do not correlate highly with each other. Thus, one metric could view marketing initiatives as successful, whereas another could interpret them as a waste of resources. The resulting ambiguity has ...
20 Citations Source Cite
Published on Jan 1, 2016in MIT Sloan Management Review 2.20
Clayton M. Christensen49
Estimated H-index: 49
,
Thomas Bartman1
Estimated H-index: 1
,
Derek van Bever6
Estimated H-index: 6
The landscape of failed attempts at business model innovation is crowded and becoming more so as management teams at established companies mount both offensive and defensive initiatives involving new business models. This article assembles knowledge that the primary author has developed over the course of two decades studying what causes good businesses to fail, complemented by a two-year intensive research project to uncover where current managers and leadership teams stumble in executing busin...
32 Citations
Published on Oct 1, 2015in Current Directions in Psychological Science 4.48
Robin M. Hogarth44
Estimated H-index: 44
(UPF: Pompeu Fabra University),
Tomás Lejarraga7
Estimated H-index: 7
(MPG: Max Planck Society),
Emre Soyer5
Estimated H-index: 5
(Özyeğin University)
Inference involves two settings: In the first, information is acquired (learning); in the second, it is applied (predictions or choices). Kind learning environments involve close matches between the informational elements in the two settings and are a necessary condition for accurate inferences. Wicked learning environments involve mismatches. This conceptual framework facilitates identifying sources of inferential errors and can be used, among other things, to suggest how to target corrective p...
17 Citations Source Cite
Published on Jun 1, 2015in Organization Science 3.26
Jerker Denrell19
Estimated H-index: 19
(Warw.: University of Warwick),
Christina Fang11
Estimated H-index: 11
(NYU: New York University),
Chengwei Liu6
Estimated H-index: 6
(Warw.: University of Warwick)
We propose that random variation should be considered one of the most important explanatory mechanisms in the management sciences. There are good theoretical reasons to expect that chance events strongly impact organizational behavior and outcomes. We argue that models built on random variation can provide parsimonious explanations of several important empirical regularities in strategic management and organizational behavior. The reason is that random variation in a structured system can give r...
20 Citations Source Cite
Published on May 1, 2015in Review of Finance 1.94
Meike A. S. Bradbury1
Estimated H-index: 1
(UZH: University of Zurich),
Thorsten Hens24
Estimated H-index: 24
(NHH: Norwegian School of Economics),
Stefan Zeisberger5
Estimated H-index: 5
(NHH: Norwegian School of Economics)
We apply a new and innovative approach to communicating risks associated with financial products that should support investors in making better investment decisions. In our experiments, participants are able to gain “simulated experience” by random sampling of a previously described return distribution. We find that simulated experience considerably improves participants’ understanding of the underlying risk-return profile and prompts them to reconsider their investment decisions and to choose r...
29 Citations Source Cite
Published on May 1, 2015
Emre Soyer5
Estimated H-index: 5
,
Robin M. Hogarth44
Estimated H-index: 44
4 Citations
Published on Feb 1, 2015in California Management Review 5.00
Tobias Weiblen8
Estimated H-index: 8
(HSG: University of St. Gallen),
Henry Chesbrough44
Estimated H-index: 44
(University of California, Berkeley)
When it comes to agility, startups have an edge over large corporations—whereas large corporations sit on resources which startups can only dream of. The combination of entrepreneurial activity with corporate ability seems like a perfect match, but can be elusive to achieve. This article examines how large corporations from the tech industry have begun to tap into entrepreneurial innovation from startups. Prominent examples are used to inductively derive a set of four models commonly used to eng...
52 Citations Source Cite
Published on Jan 1, 2015in Journal of Marketing 7.82
Rex Yuxing Du9
Estimated H-index: 9
(UH: University of Houston),
Ye Hu10
Estimated H-index: 10
(UH: University of Houston),
Sina Damangir2
Estimated H-index: 2
(SFSU: San Francisco State University)
Evolving tastes can change the relative importance of product features in shaping consumers' purchase decisions, which in turn can shift the relative attractiveness of products with different feature levels. The challenge lies in finding a reliable yet cost-effective way to monitor the weights consumers place on various product features. In the context of the U.S. automotive market, the authors explore the potential of using trends in online searches for feature-related keywords as indicators of...
23 Citations Source Cite
Cited By2
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Published on Feb 13, 2019in Journal of Business & Industrial Marketing 1.96
Denis Klimanov (HSE: National Research University – Higher School of Economics), Olga A. Tretyak3
Estimated H-index: 3
(HSE: National Research University – Higher School of Economics)
Purpose The purpose of this paper is to establish a connection between the business model (BM) and B2B marketing research by developing a new approach to the BM analysis and improvement, which is based on inter-organizational networks and value chains. Design/methodology/approach The methodology is based on mutual enrichment of methods and results of BM and business-to-business marketing studies that are relatively isolated from each other, and on integration of them to the unified structured ap...
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Published on Jan 1, 2019
Waldemar Pförtsch (Pforzheim University of Applied Sciences), Uwe Sponholz
Nach der Entwicklung des Bangalore Modells das die theoretischen Konzepte von Design Thinking, Service-Dominant Logic und Digitalisierung ins Marketing konzeptionell zusammenfasste, wird in diesem Kapitel das konzeptionelle Modell des Mensch Marketing entwickelt. Das Mensch Marketing ermoglicht, die Zusammenhange zwischen den Einflussfaktoren der Bangalore Models und dem Mensch Marketing aufzuzeigen und umzusetzen. Voraussetzung des Mensch Marketing ist das integrative Verstandnis von H2H Mindse...
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Published on Jan 1, 2019
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Published on Dec 1, 2017
Hubert Gatignon26
Estimated H-index: 26
(Ad: INSEAD),
Xavier Lecocq10
Estimated H-index: 10
(Lille Catholic University)
+ 1 AuthorsAlina Sorescu11
Estimated H-index: 11
(A&M: Texas A&M University)
6 Citations Source Cite