Big Data in Small Business: Data-Driven Growth in Small and Medium-Sized Enterprises

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.

Table of Contents:
Contents: Introduction 1 Carsten Lund Pedersen, Adam Lindgreen, Thomas Ritter and Torsten Ringberg PART I FOUNDATIONS: GETTING THE BASICS RIGHT 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 PART II CAPABILITIES: GETTING DIGITIZATION RIGHT 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 PART III FUNCTIONS: GETTING ALL BUSINESS AREAS INTO BIG DATA MODE 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 PART IV TRANSFORMATIONS: GETTING THERE THE RIGHT WAY 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 Index

About the Author :
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

Review :
‘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.’ ‘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.’ '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!' '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.' '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.' '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.'