Invited talk at Social Media Research Workshop. UK Science & Innovation Network, 6 February...

Social Media, Big Data and New Business Models

Richard Adams, NEMODE SRF 6 February, 2014

Agenda

• NEMODE: New Economic MOdels in the Digital Economy

• NEMODE as an enabler• NEMODE connecting into UK HEIs

• Research opportunities: general and specific

• Taxonomising the business models of the digital economy• Service science: digitising a retail observatory• Social media and big data facilitating the sustainable

organisation

Network+

To support research to rapidly realise the transformational impact of digital technologies on aspects of community life, cultural experiences, future society, and the economy

This area for pictures/charts/tables,etc

Sustainable Society IT as a Utility

Communities and Culture

New Economic Models

UK HEIs

NEMODE: Interests and Support

Research themes• New E/B Models (taxonomy, form, flexibility…)• Sectorally agnostic • Aspects of DE impacting Business Models

– Big data– Social media– Human computer interaction– Gamification– Entrepreneurialism and DE– Pervasive / ubiquitous computing– Security, privacy and trust– Value creation and capture– Data ‘productisation’– Analytics

Funding available for• Open call (£3k)• Workshops (£4k)• International speakers (T&S)• Placements/secondment

(£12k)• Start-up support (£20k)• Pilot studies (£50k)• …

Related DE Projects - NEMiNDE• Professor I Ng, University of Warwick: Home Hub-of-all-Things (HAT) as Platform for

Multi-sided Market powered by Internet-of-Things: Opportunities for New Economic & Business Model

• Dr A Leiponen, Imperial College London: Catalysing economic growth: releasing the value of big data

• Dr J Cox, University of Portsmouth: The wonders of the Zooniverse: Modelling and optimising volunteer participation in online citizen science

• Professor P Cowling, University of York: NEMOG: New Economic Models and Opportunities for digital Games

• Professor mc schraefel, University of Southampton: Meaningful Consent in the Digital Economy

• Professor C Baden Fuller, City University London: Building Better Business Models: Capturing the Transformative Potential of the Digital Economy

• Dr T Minshall, University of Cambridge: Bit by bit: Capturing the value from the digital fabrication revolution

• Dr T Preis, University of Warwick: Big Data, Innovations and New Business Models

• Incumbent players rarely do well when industries get disrupted

• Digital threatens ’analogue’ business models

• What are business models?• Stories that explain how enterprises work• Focus on value: VP, VCr, VCa

• What do business models consist of? • ≥ 100 components• Resources and assets to suppliers and customer information,

distribution mechanisms to governance…

• Big questions: • How does big data impact the business model of a firm?• How do business model components configure?

Business models in the digital economy

Taxonomising Business Models in the DE

• How is digital affecting

business models?

• What does the DE/Big Data

business model look like on

the inside?

• How does a taxonomy of DE

Business Models differ

across sectors?

Internal artefacts

Relational mechanisms

External stakeholders

VP ChannelsCustomer relationships

Customer segments

VCr ResourcesProcesses

Key partnerships

VCa Cost structure Revenue streams

A search for examples of the effect of DE on Business Models

NEMODE retail observatory

Technological diversity• Digital based signage• Location analytics• Experience measurement

systems• Micro mobility marketing• Recommender systems• Smart PSAs

Possible research themes:• Eliminating silos between digital and

bricks & mortar offers• Digital push vs digital pull• Omni-channel retailing• Role of UGC & in-store apps• Customer journey, the buying

decision• …

Areas for collaboration:• Advisory group• Instrumenting the shop and data management• Research collaborations with UK HEIs, NSF, ISSIP

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What is the nature of SM/BD practices supporting firm's journey to sustainability?

• NEMODE as an enabler of research in DE

• Focus on how DE is affecting BMs and EMs

• Connections into a diverse and growing community

of UK DE researchers

• Wide range of research collaboration opportunities

Contact:

r.j.adams@exeter.ac.uk

Key messages