Research Insight 3.3

Throughout the textbook reference is made to seminal academic papers (as part of the Research Insights features) that can assist you in the further development of your understanding of a particular concept or theory that has been introduced. Organized by chapter, this resource provides links to these seminal papers.

Please note that your institution will require a subscription to the relevant journal for you to access the full text of the articles. If you are unsure how to do this, please contact your university librarian. Often professional bodies, such as the Chartered Institute of Marketing, also offer access to journals via their library services. Alternatively, you can purchase the articles directly from the source website.

Source: Erevelles, S., Fukawa, N, and Swayne, L (2016), ‘Big Data consumer analytics and the transformation of marketing’, Journal of Business Research, 69(2), 897–904.

Abstract: Consumer analytics is at the epicentre of a Big Data revolution. Technology helps capture rich and plentiful data on consumer phenomena in real time. Thus, unprecedented volume, velocity, and variety of primary data, Big Data, are available from individual consumers. To better understand the impact of Big Data on various marketing activities, enabling firms to better exploit its benefits, a conceptual framework that builds on resource-based theory is proposed. Three resources—physical, human, and organizational capital—moderate the following: (1) the process of collecting and storing evidence of consumer activity as Big Data, (2) the process of extracting consumer insight from Big Data, and (3) the process of utilizing consumer insight to enhance dynamic/adaptive capabilities. Furthermore, unique resource requirements for firms to benefit from Big Data are discussed.

Insight: This paper highlights that firms benefit more from Big Data using inductive reasoning than deductive reasoning. RBT provides a useful overview of the impact of Big Data on competitive advantage. Ignorance motivates the desire for new information from Big Data. Radical innovation enables firms to create greater value through Big Data. Creative intensity is essential to harnessing the benefits of Big Data.

URL: http://www.sciencedirect.com/science/article/pii/S0148296315002842