Business and data analytics: New innovations in the management of e-commerce

• Main Authors: KAUFFMAN, Robert J., SRIVASTAVA, Jaideep, VAYGHAN, Jamshid
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2012
• Subjects: Computer Sciences; Management Information Systems; Technology and Innovation
• Online Access: https://ink.library.smu.edu.sg/sis_research/1752; https://ink.library.smu.edu.sg/context/sis_research/article/2751/viewcontent/1_s2.0_S1567422312000051_main__1_.pdf
• Institution: Singapore Management University

The success of many different kinds of e-business operations depends on data and information, and how they are used to optimize operations, drive sales and marketing, and grow the business. The ability to manage and safeguard data as a strategic asset, transform it into actionable information, and use it as a strategic differentiator is a key contributor to the success of any business operation. What makes this an even more interesting challenge is the speed at which data have been growing in recent years, due to social networking, the Internet, mobile telephony and all kinds of new technologies that create and capture data. The popular press, McKinsey Consulting, IBM Research and many other organizations are now referring to this development with the phrase ‘‘big data’’. The broad recognition in industry is that e-commerce operations must be designed to take advantage of the data that have become available, as a basis for improving customer service, achieving firm awareness and making markets effective places for economic exchange. As a result, traditional data management, data engineering, and data analytics techniques do not seem to work well with the historically large amounts of data that many e-commerce operations face today. Indeed, these day electronic commerce is all about data!