New book: How to create value with Big Data

Big Data. Many organizations are struggling with the explosive growth and diversity of data, or fear missing out. The new book by Peter Verhoef, professor of Marketing at the University of Groningen, Edwin Kooge and Natasha Walk, managing partners of MetrixLab Big Data Analytics, responds to an increasingly urgent need to meet the promise of Big Data.

On Thursday, February 11th, 2016, the authors officially present their book ‘Creating Value with Big Data Analytics: Making Smart Marketing Decisions’ (Routledge, 2016) in Amsterdam to professors Rinnooy Kan (University of Amsterdam), Peter Leeflang and Harry Garretsen (University of Groningen).

No revolution

Big Data promises an in-depth understanding of market developments, brand performance and customer behavior, in a way that it creates significant value for both the customer and the firm. Many organizations are struggling with it, but Verhoef, Kooge and Walk take a refreshing perspective and offer a practical approach to Big Data Analysis, with a solid theoretical foundation. They argue that the rise of Big Data is not a revolution, but an evolution of data analytics since the early 90s.

Model for value creation

Verhoef, Kooge and Walk introduce their Big Data Value Creation Model to make the complex simple. It focuses on the two directions of value creation (for the customer and for the company) and the role that ‘analytics’ and the rapidly growing amount of structured and unstructured data play here. Data from both internal and external sources.

They further break these two directions of value creation down into three levels: market level, brand level and customer level. For each of the six areas that are defined as such, the authors offer a practical, implementable approach for using and analyzing Big Data. The model lists all success factors for an optimal use of Big Data Analysis for organizations.

About the Authors

Peter Verhoef is Professor of Marketing at the University of Groningen. Since the start of his academic career in 1996 he has specialized in customer management and customer loyalty, about which he has published widely in leading marketing journals. Besides being Professor and Chairman of the Department of Marketing, he is founder of the Customer Insights Center of the Faculty of Economics and Business and he holds a number of managerial positions, for example president of the advice committee “Vertrouwensmonitor” of the Dutch Association of Banks.

Edwin Kooge and Natasha Walk work together in data analysis since 1993Through the years they have become consultants and entrepreneurs in the use of data analysis for commercial issues for renowned Dutch and international organisations. At the moment they are managing partners of MetrixLab Big Data Analytics, part of the global Macromill Inc.

Note for the press

• More information: Prof.dr. Peter Verhoef
• Media representatives who wish to attend the book presentation on 11 February at 16h in Amsterdam, may request an invitation from Professor Verhoef.

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