June 2015

Viewing posts from June , 2015

Does Context Matter?

Using Big Data To Predict Consumer Choice:

Consumer data is a valuable asset in the current age of data with “smart things” (sensors) delivering large amounts of information to consumers and businesses. According to IBM, in 2012 more than 2.5 exabytes (2.5 billion gigabytes) of data was generated daily. By 2015 this number has grown and, according to forecasts, will continue to grow to 40,000 exabytes by 2020. Under these circumstances, businesses develop innovative techniques to extract and analyse data “on the fly” in order to create quick value propositions for the consumers. The availability of large masses of data catalyses the rise of the domain of data-driven business models (DDBM) which looks at how the data can be used in order to develop new and improve existing business modelling mechanisms.

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