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Why Smart Companies Are Giving Customers More Data

Wixom, Barbara H.; Schüritz, Ronny M.; Farrell, Killian

Abstract:
Companies are discovering the benefits of data wrapping--packaging their products with data analytics features and experiences that delight customers and increase profitability. Companies are data wrapping when they give data and analytics to customers as product features and customer experiences--such as spend categorizers, automatic sound optimizers, and shopper insights--with the goal of increasing a product's value proposition. There are four key characteristics that make data wrapping distinctive including the conceptualization that data analytics users are a company's customers, not employees and that economic returns result from a lift in sales, not from an internal business process improvement.



Zugehörige Institution(en) am KIT Karlsruhe Service Research Institute (KSRI)
Publikationstyp Zeitschriftenaufsatz
Publikationsdatum 19.05.2020
Sprache Englisch
Identifikator ISSN: 1532-8937, 1532-9194
KITopen-ID: 1000122296
Erschienen in MIT Sloan management review
Band 61
Heft 4
Seiten 1-5
Externe Relationen Abstract/Volltext
KIT – Die Forschungsuniversität in der Helmholtz-Gemeinschaft
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