Big Data Consumer Analytics and the Transformation of Marketing
Consumer analytics is at the epicenter 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.
Erevelles, S., Fukawa, N., & Swayne, L. (2016). Big Data Consumer Analytics and the Transformation of Marketing. Journal of Business Research, 69(2), pp. 897-904. Elsevier.
The definitive version is available at https://doi.org/10.1016/j.jbusres.2015.07.001
Business and Information Technology
Keywords and Phrases
Big Data; Consumer analytics; Consumer insights; Ignorance; Induction; Resource-based theory
International Standard Serial Number (ISSN)
Article - Journal
© 2016 Elsevier, All rights reserved.
01 Feb 2016