Data analysis for digital transformation: the example of willingness to share personal information
Series
Elgar Research Agendas
ISBN
978 1 0353 0642 8
Type
book section
Date Issued
2024-09
Author(s)
Editor(s)
John Dong
Peter Verhoef
Abstract
Digital transformation refers to firms integrating digital technologies into
their business operations to fundamentally change the way they do business.
As such, digital transformation can be regarded as a change catalyst. In an
increasingly global and digital world, in which consumer data are relatively
accessible and information-technology capabilities are continually expanding,
firms have unparalleled opportunities to collect, analyze, and exploit consumer
data to create value (Beke et al., 2018). The amount of data that consumers
provide—willingly or unwillingly—is skyrocketing (Wedel & Kannan, 2016).
However, as data become more readily available, customer databases become
considerably larger and noisier; firms must handle, select, analyze, and interpret
customer data to create valuable insights and provide consumer-specific
solutions. Addressing consumers’ heterogeneous needs and preferences within
and across countries constitutes a considerable challenge for firms (Steenkamp
& Ter Hofstede, 2002). Therefore, international market segmentation poses
a significant challenge (Douglas & Craig, 2006).
their business operations to fundamentally change the way they do business.
As such, digital transformation can be regarded as a change catalyst. In an
increasingly global and digital world, in which consumer data are relatively
accessible and information-technology capabilities are continually expanding,
firms have unparalleled opportunities to collect, analyze, and exploit consumer
data to create value (Beke et al., 2018). The amount of data that consumers
provide—willingly or unwillingly—is skyrocketing (Wedel & Kannan, 2016).
However, as data become more readily available, customer databases become
considerably larger and noisier; firms must handle, select, analyze, and interpret
customer data to create valuable insights and provide consumer-specific
solutions. Addressing consumers’ heterogeneous needs and preferences within
and across countries constitutes a considerable challenge for firms (Steenkamp
& Ter Hofstede, 2002). Therefore, international market segmentation poses
a significant challenge (Douglas & Craig, 2006).
Language
English
Book title
A Research Agenda for Digital Transformation Multidisciplinary Perspectives
Start page
281
End page
326
Pages
45
Contact Email Address
peter.maas@unisg.ch