An analysis of the use of market intelligence data by senior business leaders – the development of a new model (ICSAR) for the identification and implementation of specifically focused data
Doctorate other than PhD
Title | An analysis of the use of market intelligence data by senior business leaders – the development of a new model (ICSAR) for the identification and implementation of specifically focused data |
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Type | Doctorate other than PhD |
Authors | |
Author | Dowsett, Christopher James |
Supervisor | Van Der Lann, Luke |
Institution of Origin | University of Southern Queensland |
Qualification Name | Doctor of Professional Studies |
Number of Pages | 100 |
Year | 2015 |
Abstract | Big data, analytics and data science are terms that have come to represent a growing focus on decision making built on the foundation of market intelligence data. The enthusiasm for this form of evidence-based decision making has grown with the ability for businesses to better track The ability to better track customer and markets has resulted from the development of technology and the transition to more digital services. For example, a growing number of businesses offer their services and products based on a subscription model through the internet. The move to more digital and mobile-based services is a phenomenon that has occurred in all industries and has given business leaders access to more data sources than ever before. In theory, this should support better decision making because the amount of information has grown rapidly. These points raised questions about how business leaders were selecting from the growing variety of data sources and what factors influenced that selection process. From there, the question was raised about how data was being used in decision making. Answering these questions holds significant potential for businesses. Understanding limitations to data use and applying this knowledge in a structured way has the potential to ensure data is used objectively and holistically in decision making. The result is that businesses are better able to take advantage of market intelligence and extract the greatest value from its organizational knowledge. This research studied what data sources were used by business leaders, how the data was used in their day-to-day projects and what factors led to the selection of a data source over another in the decision making process. The research was an exploratory approach using a mixed methodology that included in-depth interviews, a survey and a case study. The research deliberately focused The research found that there was a varied approach to data use with multiple factors being involved in how data was used. The first finding was that most business leaders used a variety of data sources. However, data sources were selected based on a hierarchy that was specific to each Second, the research showed there were four types of influence involved in selection of data sources. Those four influence types were organisational demographics, personal experience with a data source, time-based needs and project requirements. These four factors led to the subjective The third finding was that there was mix of data maturity levels and that most organisations did not have an integrated approach to data use. The possible cause of this was that many organisations lacked data leadership to ensure that data use in decision making was structured These findings showed that businesses seeking to capitalise on the growing number of data sources needed to examine whether business leaders were using data effectively. The finding that there was a degree of subjectivity in the selection of a data source suggests businesses needed to This led to the final section of this research which was the development of the ICSAR model for data use. The ICSAR model was designed by the research author as a five step framework that provides business leaders with a structured approach to selecting and using data objectively in |
Keywords | market intelligence data; ICSAR model; data selection |
ANZSRC Field of Research 2020 | 350606. Marketing research methodology |
Byline Affiliations | School of Linguistics, Adult and Specialist Education |
https://research.usq.edu.au/item/q30x1/an-analysis-of-the-use-of-market-intelligence-data-by-senior-business-leaders-the-development-of-a-new-model-icsar-for-the-identification-and-implementation-of-specifically-focused-data
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