4.3.1 Summary

Course subject(s) Module 4 – Big Data Upending Strategy and Innovation

Big data has led to disruptive changes of markets, sectors, economies and political systems. Companies not taking these potential or existing disruptions into consideration might face decline, failure or even bankruptcy. In order to avoid this, firms have to anticipate the disruptive power of big data and its effects on innovation and technological change as quickly as possible.

When considering the disruptive power of big data it is vital to focus on a strategy combining  low costs, product leadership and customized offerings.

Companies with such a strategy have to seek innovation through rapid-fire, low-cost experimentation. There are numerous options for seeking innovation in that way, e.g. via popular platforms or via hackathons.

In using these or other kinds of rapid-fire low-cost experimentation, companies can check out very many options at relatively little expense.

This is the way the one solution with which to outcompete others by a combination of better prices, better product quality and customized offerings.

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Big Data Strategies to Transform Your Business by TU Delft OpenCourseWare is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Based on a work at https://online-learning.tudelft.nl/courses/big-data-strategies-to-transform-your-business/.
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