Big Data in Small Business


Big Data in Small Business

Data-Driven Growth in Small and Medium-Sized Enterprises

9781839100154 Edward Elgar Publishing
Edited by Carsten Lund Pedersen, Assistant Professor, Copenhagen Business School, Denmark, Adam Lindgreen, Professor, Copenhagen Business School, Denmark and Extraordinary Professor, Gordon Institute of Business Science, University of Pretoria, South Africa, Thomas Ritter, Professor, and Torsten Ringberg, Professor, Copenhagen Business School, Denmark
Publication Date: 2021 ISBN: 978 1 83910 015 4 Extent: 272 pp
This important book considers the ways in which small and medium-sized enterprises (SMEs) can thrive in the age of big data. To address this central issue from multiple viewpoints, the editors introduce a collection of experiences, insights, and guidelines from a variety of expert researchers, each of whom provides a piece to solve this puzzle.

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This important book considers the ways in which small and medium-sized enterprises (SMEs) can thrive in the age of big data. To address this central issue from multiple viewpoints, the editors introduce a collection of experiences, insights, and guidelines from a variety of expert researchers, each of whom provides a piece to solve this puzzle.

Contributions address the limitations faced by SMEs in their access to data and demonstrate that the key to overcoming this issue is to be aware of these limitations, to work within them, and to use them to think creatively about how to overcome obstacles in new ways. They discuss Artificial Intelligence, revenue blueprinting, GDPR compliance, and other key topics related to the relationships between SMEs and data. Offering ideas to inspire big data–driven success by SMEs making smaller investments, the book argues that there must be a place for “ordinary” data-driven journeys that are available to firms of any size.

Stimulating further thought and action, Big Data in Small Business will be of great interest to academics, researchers, and practitioners in areas such as strategic management, organizational and innovation studies, marketing, and sales. The ideas and information in this book will help fill knowledge gaps related to important aspects of capabilities, functions, and transformations of big data that drive business growth.
Critical Acclaim
‘This is a very timely book. SMEs with limited resources have to understand the power of big data and ensure that they are not left behind by the large platforms. This book is insightful and rigorous. It features multiple perspectives and guidelines provided by a group of excellent experts. It’s a very valuable guide for practitioners and a great teaching resource for faculty and students.’
– Markus Reihlen, Former Vice President, Professor of Strategic Management, and Principle Investigator of the Digital Entrepreneurship Project, Leuphana University of Lüneburg, Germany

‘Creating actual digital innovation roadmaps for SMEs based on big data beyond the hype of the words is of great value. I welcome this contribution to increasing competitiveness for SMEs through data, digital competencies, and innovative solutions that increase companies’ insight into customers'' needs and challenges.’
– Per B. Brockhoff, Professor, Head of Department, M.Sc., Ph.D., R, Technical University of Denmark

‘I have often seen how data is given too little attention when companies undertake digitalization efforts. That is a shame, since access to high quality data is like having a superpower, and this superpower is accessible to any business that is willing to do the work. Good to see a book that focuses on the opportunities for small and medium-sized businesses!’
– Pernille Erenbjerg, Board Member at Genmab, Nordea, Nordic Entertainment Group and Millicom, Denmark

‘The importance of big data competence cannot be overstated, and should not be out of the reach of smaller firms. Small and medium-sized enterprises should be able to increase their success by building big data capabilities and creating data-driven growth. This book shows how smaller firms have developed big data competence and digitization capability, implemented artificial intelligence techniques, and identified customer growth potential through customer insight analysis. The authors provide realistic guidance for implementation using real-life successful examples. In sum, this book provides a roadmap to small and medium-size enterprises that wish to facilitate their adoption of big data capabilities and become fully digitally enabled.’
– C. Anthony Di Benedetto, Fox School of Business, Temple University, US

‘I congratulate the authors for focusing on how small and medium-sized businesses can make the most of big data based small investments and fast experimentation for quick wins. Agility is key, and this excellent book exactly shows how SMEs can move fast – to win fast – in the data space.’
– Wolfgang Ulaga, Senior Affiliate Professor of Marketing at INSEAD & Director of the Marketing & Sales Excellence Initiative (MSEI), France

‘Through my active involvement in SMEs, I see the struggles and the successes of SMEs’ data utilization journeys. I very much hope that this book will inspire many executives on how to successfully engage in data-driven business development.’
– Jan Damsgaard, Professor of Digitalization, Copenhagen Business School and Board member at SME Denmark & National Digital Expert Advisor, Denmark

Contributors: Henrik Andersen, Poul Houman Andersen, Shirley Y. Coleman, Annie V. Dang, Heikki Karjaluoto, Christian Kowalkowski, Adam Lindgreen, Carsten Lund Pedersen, Paul Matthyssens, Joel Mero, Karen G. Mills, Dana Minbaeva, Camilla Nellemann, Frederikke Amalie la Cour Nygaard, Sena Ozdemir, Torben Pedersen, Torsten Ringberg, Thomas Ritter, Helle Rootzén, Pernille Rydén, Vania Sena, David Sörhammar, Bieke Struyf, Tanja Tammisalo, Bård Tronvoll, Jan Trzaskowski, Wouter Van Bockhaven

Introduction 1
Carsten Lund Pedersen, Adam Lindgreen, Thomas Ritter and Torsten Ringberg

1 Building small business utopia: how artificial intelligence and Big Data
can increase small business success 11
Karen G. Mills and Annie V. Dang
2 GDPR compliant processing of big data in small business 27
Jan Trzaskowski
3 Big Data and SMEs 40
Vania Sena and Sena Ozdemir

4 Value-creation for Industry 4.0 and SMEs’ data-driven growth:
strategies and resource alignment 64
Bieke Struyf, Wouter Van Bockhaven and Paul Matthyssens
5 Analyzing and developing digitization capabilities for data-driven
projects in SMEs 104
Carsten Lund Pedersen and Thomas Ritter
6 How a glass-processing SME developed its big data competence 117
Joel Mero, Heikki Karjaluoto and Tanja Tammisalo
7 Big data in and for small business: data excellence in SMEs through
engagement in university partnerships 129
Shirley Y. Coleman

8 Capitalizing on human capital analytics in small and medium-sized enterprises 146
Frederikke Amalie La Cour Nygaard and Dana Minbaeva
9 How experimental data can optimize e-learning 164
Camilla Nellemann and Torben Pedersen
10 How do big data impact business market relationships? 174
Poul Houman Andersen
11 Revenue blueprinting: identifying growth potential using customer data
and customer insights 193
Henrik Andersen and Thomas Ritter

12 Transforming small and medium-sized enterprises (SMEs) to digitally
enabled landscapes 211
Bård Tronvoll, Christian Kowalkowski and David Sörhammar
13 Facilitating big data transformation in Danish SMEs: insights for managers 228
Pernille Rydén and Helle Rootzén

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