New ideas for business models using data

1. An analysis:
THE NEW PATTERNS
OF INNOVATION
by Rashik Parmar, Ian Mackenzie, David Cohn and David Gann

2. “Necessity if the mother of all inventions”~Albert Einstein
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But while setting up a new business model,
it isn’t always easy to pin point the
necessity or need of the market
The authors of this article discuss the new
ways to identify an entrepreneurial
opportunity or to create the appetite for a
product or service using the emerging data
analytics industry

4. KEY INSIGHTS
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5. 1.
Trading data
Business opportunities by selling information
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6. “ A collaboration between Vodafone and
TomTom, a provider of satellite navigation
devices and services.
With its mobile network, Vodafone can identify which of its
subscribers are driving, where they are, and how fast they’re
moving. Such data can be used to pinpoint traffic jams—
information that is extremely valuable to TomTom, which buys it
from Vodafone.

7. Data is the new sexy
▸ Companies and organizations require data
to develop useful insights and improve
business models
▸ In this age of information technology,the
cost and importance of information is rising
by the day, and the data collected by an
institution can be sold to earn revenue
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8. MANAGERIAL RELEVANCE
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9. “ Free Airport Wi-Fi at the Singapore
International Airport
The free Wi-Fi requires the users to fill in basic credentials like
name,age,nationality,phone number etc to register. These
credentials form a rich database of the flux of tourists and
travellers,which is sold to the airport and business’ to use.

10. “ Toyota cars and GPS devices
Toyota, the master of assembly line efficiency, has built a new business
that takes advantage of the GPS navigation devices it installs in cars
sold in Japan. It captures the speed and position of cars and sells
traffic data to municipal planning departments and corporate delivery
fleets at prices that start at $2,000 a month
Source:https://hbr.org/2016/10/to-get-more-value-from-your-data-sell-it

11. TAPPING POTENTIAL THROUGH DATA
▸ 85% of
Facebook
users are
connected via
mobile phones
whereas, 80%
are from
smartphone
users.
▸ The highest
number of
active users
are from 17-24
age group.
More than 60%
social media
active users
are college
going students.
▸ There are 462
Million internet
users in India in
which more
than 200
Million are
social media
active users.
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Source:https://www.getmeashop.com/blog/some-interesting-facts-about-digital-social-media-users-in-india/#close

12. BENEFITS TO AN INDIAN MANAGER
▸ India is a diverse community. The high complexity and
richness of data has an unrecognized value and untapped
potential
▸ Managers can use the business model in Japan to monitor
and sell traffic data in traffic prone cities like Bangalore or
Mumbai
▸ Data can also be used for developing environmental friendly
models. In smog covered cities like Delhi, managers can tap
data from industries to track the pollution and waste.
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13. 2.
Digitizing assets
Revolutionizing the conventional approach
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14. EMPOWERING PEOPLE THROUGH DIGITISATION
▸ The world is seeing a shift in the form of assets
with the introduction of cashless
transactions,crypto-currencies,cloud computing
etc.
▸ India is also experiencing a wave of change with
increasing number of startups based on
ecommerce and e-finance ,demonetization and
digitizing initiatives by the Govt. of India
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https://digitizeindia.gov.in/

15. MANAGERIAL RELEVANCE
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https://www.getmeashop.com/blog/some-interesting-facts-about-digital-social-media-users-in-india/

17. BENEFITS TO AN INDIAN MANAGER
Digitizing of assets greatly increases:
▸ convenience
▸ modularity
▸ ease of access
▸ outreach
▸ creativity
▸ conservation of resources and labour
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18. RECAP
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1. Trading Data
2. Digitizing assets
3. Relevance to managers in India: India is a developing nation that is
undergoing a transformation with the new age of information
technology. Managers must exploit this change early and effectively,to
catch up with the changing times.

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