Does Big Data Matter to Value Creation? : Based on Oracle Solution Case (Does Big Data Matter to Value Creation? : 오라클(Oracle) 솔루션을 중심으로)
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- Journal of Information Technology Services
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- v.11 no.3
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- pp.39-48
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- 2012
It is essential that firm makes a rational and scientific decision making and creates a news value for the future direction. To do so, many firms attempt to collect meaningful data and find the filtered and refined implication for the better customer relationship and the active market drive through the various analytic tools. Among the possible IT solutions, utilization of 'Big Data' is becoming more attractive and necessary in such a way that it would help firms obtain the systemized and demanding information and facilitate their decision making process to keep up with the market needs. In this paper, it introduces the concepts and development of 'Big Data' recognized as a IT resource and solution under the rapidly changing firm environment. This study also presents the several firm cases using Big Data' and the Oracle's total data management and analytic solutions in order to support the application of 'Big Data'. Finally this paper provides a holistic viewpoint and realistic approach on use of 'Big Data' to create a new value.
Six sigma has been the most influential management innovation tool in order to achieve the customer's satisfaction and keep the competition in the age of limitless competition. The success in six sigma is to find the correct CTQ (Critical to Quality). QFD (Quality function deployment) is the efficient too ever created to tie product and service design decisions directly to customer wants and needs. One of the mistakes in QFD is to analyze using an inconsistent HOQ (House of quality) chart. An inconsistent HOQ chart is one in which the information from the correlation matrix is inconsistent with that from the relationship matrix. This study presents the consistency check and inconsistency check in case of failing the consistency check. Also we propose the procedures using the Limiting Probability in correlation matrix and the Median Rank in relationship matrix in order to be consistent in HOQ chart.
Product-Service Systems (PSS) has drawn significant attention since it can effectively address diverse values of consumers by integrating products and services. PSS has been defined as a system of products, services, supporting networks and infrastructure that is designed to satisfy customer needs and to generate values. Manufacturing companies can accomplish business innovation by devising new service elements and providing PSSs starting from their products. Such new efforts are called manufacturing servitization. With analysis of the company's business contexts, diverse strategies could be set for servitization. Services could be developed so that their product functions can be supported. On the other hand, new services could be devised to drive active emotional values of their customers in a broadly related manner with their products. In this way, different servitization strategies in service space could be employed. In this paper, the product-service integration spaces for comparison of product-service systems in manufacturing servitization is briefly sketched. Various issue spaces, termed dimensions, would be used including service space, customer space, value space and business model space. Diverse PSS cases, including well-known PSSs and brand new PSSs, will be classified and compared to demonstrate the product-service integration spaces.
1. Introduction Today Internet is recognized as an important way for the transaction of products and services. According to the data surveyed by the National Statistical Office, the on-line transaction in 2007 for a year, 15.7656 trillion, shows a 17.1%(2.3060 trillion won) increase over last year, of these, the amount of B2C has been increased 12.0%(10.2258 trillion won). Like this, because the entry barrier of on-line market of Korea is low, many retailers could easily enter into the market. So the bigger its scale is, but on the other hand, the tougher its competition is. Particularly due to the Internet and innovation of IT, the existing market has been changed into the perfect competitive market(Srinivasan, Rolph & Kishore, 2002). In the early years of on-line business, they think that the main reason for success is a moderate price, they are awakened to its importance of on-line service quality with tough competition. If it's not sure whether customers can be provided with what they want, they can use the Web sites, perhaps they can trust their products that had been already bought or not, they have a doubt its viability(Parasuraman, Zeithaml & Malhotra, 2005). Customers can directly reserve and issue their air tickets irrespective of place and time at the Web sites of travel agencies or airlines, but its empirical studies about these Web sites for reserving and issuing air tickets are insufficient. Therefore this study goes on for following specific objects. First object is to measure service quality and service recovery of Web sites for reserving and issuing air tickets. Second is to look into whether above on-line service quality and on-line service recovery have an impact on overall service quality. Third is to seek for the relation with overall service quality and customer satisfaction, then this customer satisfaction and loyalty intention. 2. Theoretical Background 2.1 On-line Service Quality Barnes & Vidgen(2000; 2001a; 2001b; 2002) had invented the tool to measure Web sites' quality four times(called WebQual). The WebQual 1.0, Step one invented a measuring item for information quality based on QFD, and this had been verified by students of UK business school. The Web Qual 2.0, Step two invented for interaction quality, and had been judged by customers of on-line bookshop. The WebQual 3.0, Step three invented by consolidating the WebQual 1.0 for information quality and the WebQual2.0 for interactionquality. It includes 3-quality-dimension, information quality, interaction quality, site design, and had been assessed and confirmed by auction sites(e-bay, Amazon, QXL). Furtheron, through the former empirical studies, the authors changed sites quality into usability by judging that usability is a concept how customers interact with or perceive Web sites and It is used widely for accessing Web sites. By this process, WebQual 4.0 was invented, and is consist of 3-quality-dimension; information quality, interaction quality, usability, 22 items. However, because WebQual 4.0 is focusing on technical part, it's usable at the Website's design part, on the other hand, it's not usable at the Web site's pleasant experience part. Parasuraman, Zeithaml & Malhorta(2002; 2005) had invented the measure for measuring on-line service quality in 2002 and 2005. The study in 2002 divided on-line service quality into 5 dimensions. But these were not well-organized, so there needed to be studied again totally. So Parasuraman, Zeithaml & Malhorta(2005) re-worked out the study about on-line service quality measure base on 2002's study and invented E-S-QUAL. After they invented preliminary measure for on-line service quality, they made up a question for customers who had purchased at amazon.com and walmart.com and reassessed this measure. And they perfected an invention of E-S-QUAL consists of 4 dimensions, 22 items of efficiency, system availability, fulfillment, privacy. Efficiency measures assess to sites and usability and others, system availability measures accurate technical function of sites and others, fulfillment measures promptness of delivering products and sufficient goods and others and privacy measures the degree of protection of data about their customers and so on. 2.2 Service Recovery Service industries tend to minimize the losses by coping with service failure promptly. This responses of service providers to service failure mean service recovery(Kelly & Davis, 1994). Bitner(1990) went on his study from customers' view about service providers' behavior for customers to recognize their satisfaction/dissatisfaction at service point. According to them, to manage service failure successfully, exact recognition of service problem, an apology, sufficient description about service failure and some tangible compensation are important. Parasuraman, Zeithaml & Malhorta(2005) approached the service recovery from how to measure, rather than how to manage, and moved to on-line market not to off-line, then invented E-RecS-QUAL which is a measuring tool about on-line service recovery. 2.3 Customer Satisfaction The definition of customer satisfaction can be divided into two points of view. First, they approached customer satisfaction from outcome of comsumer. Howard & Sheth(1969) defined satisfaction as 'a cognitive condition feeling being rewarded properly or improperly for their sacrifice.' and Westbrook & Reilly(1983) also defined customer satisfaction/dissatisfaction as 'a psychological reaction to the behavior pattern of shopping and purchasing, the display condition of retail store, outcome of purchased goods and service as well as whole market.' Second, they approached customer satisfaction from process. Engel & Blackwell(1982) defined satisfaction as 'an assessment of a consistency in chosen alternative proposal and their belief they had with them.' Tse & Wilton(1988) defined customer satisfaction as 'a customers' reaction to discordance between advance expectation and ex post facto outcome.' That is, this point of view that customer satisfaction is process is the important factor that comparing and assessing process what they expect and outcome of consumer. Unlike outcome-oriented approach, process-oriented approach has many advantages. As process-oriented approach deals with customers' whole expenditure experience, it checks up main process by measuring one by one each factor which is essential role at each step. And this approach enables us to check perceptual/psychological process formed customer satisfaction. Because of these advantages, now many studies are adopting this process-oriented approach(Yi, 1995). 2.4 Loyalty Intention Loyalty has been studied by dividing into behavioral approaches, attitudinal approaches and complex approaches(Dekimpe et al., 1997). In the early years of study, they defined loyalty focusing on behavioral concept, behavioral approaches regard customer loyalty as "a tendency to purchase periodically within a certain period of time at specific retail store." But the loyalty of behavioral approaches focuses on only outcome of customer behavior, so there are someone to point the limits that customers' decision-making situation or process were neglected(Enis & Paul, 1970; Raj, 1982; Lee, 2002). So the attitudinal approaches were suggested. The attitudinal approaches consider loyalty contains all the cognitive, emotional, voluntary factors(Oliver, 1997), define the customer loyalty as "friendly behaviors for specific retail stores." However these attitudinal approaches can explain that how the customer loyalty form and change, but cannot say positively whether it is moved to real purchasing in the future or not. This is a kind of shortcoming(Oh, 1995). 3. Research Design 3.1 Research Model Based on the objects of this study, the research model derived is
For several decades, attribute classification methods using the asymmetrical relationship between an attribute performance and the satisfaction of that attribute have been explored by numerous researchers. In particular, the Kano model, which classifies quality attributes into 5 elements using simple questionnaire and two-dimensional evaluation table, has gained popularity: Attractive, One-dimensional, Must-be, Indifferent, and Reverse quality. As Kano's model is well accepted, many literatures have introduced categorization methods using the Kano's evaluation table at attribute level. However, they applied different terminologies and classification criteria and this causes confusion and misunderstanding. Therefore, a criterion for quality classification at attribute level is necessary. This study is aimed to suggest a new attribute classification method that sub-categorizes quality attributes using 5-point ordinal point and Kano's two-dimensional evaluation table through an extensive literature review. For this, the current study examines the intrinsic and extrinsic problems of the well-recognized Kano model that have been used for measuring customer satisfaction of products and services. For empirical study, the author conducted a comparative study between the results of Kano's model and the proposed method for an e-learning case (33 attributes). Results show that the proposed method is better in terms of ease of use and understanding of kano's results and this result will contribute to the further development of the attractive quality theory that enables to understand both the customers explicit and implicit needs.
This study aims to provide insights for developing innovative products, based on reviews from females aged 30 to 70 who bought cosmetic cushions via TV home shopping. Analyzing 200,000 reviews with Selenium and NLP techniques, we found the main audience is in their 50s and 60s, prioritizing radiance, blemish and wrinkle coverage, and adherence. Notably, products with appealing designs were preferred, especially for gifting among relatives and friends. The proposed innovation is Korea's first AI-recommended cushion, utilizing NLP to match customer needs. Key ingredient recommendations include S.Acamella extract and AHA components, chosen for their perceived benefits and consumer preference. The research also highlights the importance of product aesthetics and gift potential, suggesting marketing strategies should emphasize these aspects to appeal to the target demographic. This approach aims to guide product development and marketing towards meeting consumer expectations in the cosmetic cushion industry, making products more personalized and gift-worthy.
The purpose of this study is to study the service physical environment, customer satisfaction and returning intention of beauty shop. Structured questionnaires and interviews were conducted to investigate these correlations and analyzed by IPA method. The physical environment in the beauty shop was analyzed as an important factor in creating an environment that can stimulate the emotional part of the customers. It is found that the atmosphere, the emotional atmosphere and the installation of the auxiliary facilities are important factors in the physical environment. Customer satisfaction was found to increase satisfaction with employees' intention, such as satisfaction with employees. The customer 's revisit intention shows that they are trying to communicate and share their experiences through customer satisfaction. It was found that it is important to meet customers' emotional needs through improving the physical environment of the stores and to improve the emotional satisfaction of customers based on this. Strategic implications for attracting customers in the beauty shop suggest that increasing satisfaction with existing customers is an important strategy in securing not only existing customers but also prospective customers.
Today's fast-paced world is becoming increasingly characterized by technology-facilitated transactions. Growing numbers of customers interact with technology to create service outcomes instead of interacting with a service firm employee. Self-service technologies provide technological interfaces that enable customers to produce a service independent of direct service employee involvement. To investigate on the customer satisfaction with self-technological based product design in Subway. I used the critical incident technique developed by Flanagan(1954) with quantitative measures of attributions. In this research, it results that customers are considered more important the value of technological-function and easy to use than the aspect of automated machine. It is likely that the technological aspect of many self-service options has a unique influence on customer perceptions of self-service encounters. Also, Research has shown that customer's needs are defined as situations in which external environmental factors add a sense of urgency to the transaction and saved time. On the other hand, customers realize that their favorable image of self-technological based product follows as ; first, customers prefer to the simple & modern image on the aspect of product design, secondly, customers prefer to the hitech-functional image to do its job fast in a short time by automated technology on the aspect of functional service, thirdly, customers prefer to the comfortable and sanitary image to be suitable for the underground circumstance.
The World Wide Web(WWW) has provided multi-media cyberspace for electronic markets where suppliers and demanders can do global electronic business with each other directly and conveniently. There are two contradictory views on the roles of intermediaries in electronic markets. One says we may not need intermediaries in doing business because suppliers and demanders can contact with each other directly in electronic markets. The other thinks that the intermediary function may be vertically decomposed from the company's internal value chain because it can be done more efficiently through networks by external intermediaries. Intelligent software agent is a new emerging technology in the field of computer science. An intelligent agent can support and do actions on behalf of users on computer networks. We think that this technology can be utilized to implement more efficient cybermediaries for electronic commerce. This paper proposes an XML-based framework for financial software agent, which selects financial products best fitted for the customer's needs in electronic market environment.
Purpose - This paper examines product design management, the current design focus of which has shifted to the need to produce innovation applications that can effectively respond to the market's consumption changes in a timely manner. Research design, data, methodology - This study discusses several methodologies that are widely used in experimental processes, such as fuzzy theory, multi-criteria decision-making theory, and managing decision making. The designers will better understand their customers by applying these methodologies. This study examines how the current trend in product innovation design observes customer needs, controls innovation, and stimulates design ability. Results - This paper takes innovative telephone design as an experimental case to investigate how to create a product using market-oriented and customized management concepts and creative design abilities. Conclusions - If accompanied by an innovative product value chain, a product can further the development of enterprise management, now the main element of every developed country's social and economic development.
. 3.2 Hypotheses 3.2.1 The Hypothesis of On-line Service Quality and Overall Service Quality shows, Step 1 and Step 2 are significant, and mediation variable has a significant effect on dependent variables and so does independent variables at Step 3, too. And there needs to prove the partial mediation effect, independent variable's estimate ability at Step 3(Standardized coefficient
shows, Step 1 and Step 2 are significant, and mediation variable has a significant effect on dependent variables and so does independent variables at Step 3, too. And there needs to prove the partial mediation effect, independent variable's estimate ability at Step 3(Standardized coefficient
Classification of Quality Attributes Using Two-dimensional Evaluation Table
(수정된 이원평가표를 이용한 품질속성의 분류에 관한 연구)
Utilizing NLP-based Data Techniques from Customer Reviews: Deriving Insights and Strategies for Cushion Product Improvement
(고객 리뷰를 통한 NLP 기반 데이터 기술 활용: 고객 인사이트 도출과 쿠션 제품 개선 방안 연구)
An Importance-Performance Analysis of Beauty shop's physical evidences and Revisit Factors
(뷰티케어 전문 샵의 물리적환경과 재방문의 의도요인에 대한 IPA 분석)
A Study on customer satisfaction with self technological - based product
(정보화시대의 무인자동화 제품디자인이 고객만족에 미치는 영향에 관한 연구 - 중요사건기법(critical incident technique)을 중심으로 -)
Software Agent for Financial Cybermediaries in Electronic Marketspace
(전자시장 환경에서의 금융중개를 위한 소프트웨어 에이전트 개발에 대한 연구)
Creating the Optimal Product Business Management System for Social and Enterprise Development
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