Analytics, Innovation, and Excellence-Driven Enterprise Sustainability (eBook)

Stavros Sindakis holds a PhD in Strategy, Enterprise and Innovation from Portsmouth University, UK and is currently Assistant Professor of Management at the American University in Dubai. His principal research interests lie in innovation and development of new customer-oriented services and exploitation of entrepreneurial opportunities in the knowledge intensive industries. His main academic contributions relate to Innovation and Enterprise Excellence, Organizational Sustainability and Growth, and Coopetition and Entrepreneurship.Elias G. Carayannis is Full Professor of Management Science in the School of Business and Public Management; Director of Research on Science, Technology, Innovation and Entrepreneurship in the European Union Research Center; and co-Founder and co-Director of the Global and Entrepreneurial Finance Research Institute (GEFRI) at the School of Business, George Washington University, USA. He has published more than forty refereed journal articles and two books, The Strategic Management of Technological Learning and Idea Makers and Idea Brokers.

Foreword 7
Contents 9
List of Contributors 11
List of Figures 15
List of Tables 17
Chapter 1: Analytics, Innovation, and Excellence-driven Enterprise Sustainability in a Dynamic Era 19
Chapter 2: Business Intelligence and Analytics: Big Systems for Big Data 24
2.1 Introduction 24
2.1.1 Evolution of Data Analytics Systems 26
2.1.1.1 Parallel Database Systems 27
2.1.1.2 MapReduce Systems 27
2.1.1.3 Dataflow Systems 28
2.1.1.4 Systems for Interactive Analytics 28
2.2 Parallel Database Systems 29
2.2.1 Row-based Parallel Databases 29
2.2.1.1 Parallel Data Storage 29
2.2.1.2 Parallel Query Execution 31
2.2.2 Columnar Databases 34
2.2.2.1 Columnar Data Storage 34
2.2.2.2 Columnar Query Execution 36
2.3 MapReduce Systems 37
2.3.1 Distributed Storage 38
2.3.1.1 Indexing 40
2.3.1.2 Collocation 40
2.3.1.3 Columnar Layouts 40
2.3.1.4 MapReduce Execution Engines 41
2.3.2 MapReduce-based Platforms 43
2.3.2.1 High-level Interfaces 43
2.3.2.2 Application Development 44
2.3.2.3 Workflow Management 44
2.3.2.4 Data Collection 45
2.4 Dataflow Systems 45
2.4.1 Generalized MapReduce Systems 45
2.4.2 Directed Acyclic Graph Systems 47
2.4.3 Graph Processing Systems 50
2.5 Systems for Interactive Analytics 51
2.5.1 Mixed Analytical and Transactional Systems 51
2.5.1.1 Mixed Storage Systems 52
2.5.1.2 Mixed Processing Systems 53
2.5.2 Distributed SQL Query Engines 54
2.5.3 Stream Processing Systems 56
2.6 Conclusions 57
References 59
Chapter 3: Business Analytics for Price Trend Forecasting through Textual Data 67
3.1 Introduction 67
3.2 Text-based Business Analytics in Price Forecasting 68
3.3 Existing Solutions in Price Trend Forecasting Approach Using Textual Data 70
3.4 Application Within the Energy Markets 78
3.4.1 Electricity Market 80
3.4.2 Gas Market 81
3.5 Conclusion 89
References 90
Chapter 4: Market Research and Predictive Analytics: Using Analytics to Measure Customer and Marketing Behavior in Business Ventures 93
4.1 Introduction 93
4.2 Background and Prior Research 95
4.2.1 Marketing Analytics 95
4.2.2 Analytic Modeling 96
4.2.3 Predictive Analytics 97
4.2.4 Social Media Analytics 99
4.2.5 Marketing Metrics 99
4.3 Methodology 101
4.3.1 Population and Sample 101
4.3.2 Research Hypotheses 101
4.3.3 Empirical Model of the Study 102
4.3.4 Measures: Marketing Analytics Used for the Study 103
4.3.5 Study Instrument: MACS 106
4.4 Conceptual Model of the Study 107
4.5 Results 107
4.5.1 Sociodemographic Statistics on the FBEs 109
4.5.2 The Results of the EFA 109
4.5.3 The Results of the Path Analysis and SEM 111
4.5.4 Correlation and Analytics 113
4.5.5 Regression Modeling and Analytics 116
4.6 Conclusions and Implications 117
4.7 Limitations and Future Research 121
References 122
Chapter 5: Strategic Planning Revisited: Acquisition and Exploitation of Information on Foreign Markets 125
5.1 Introduction 125
5.2 Setting the Framework—Understanding the Main Concepts 127
5.2.1 The Structural and Capitalized Strategic Characteristics of the Firm 127
5.2.2 Market and Industry Research: Types of Information Acquired 128
5.2.3 Sources of Information About Foreign Markets 130
5.2.4 The Culture of CRM, and the Role of Customer Information Software 132
5.2.4.1 What Shapes Strategic Behavior? 132
5.2.4.2 CRM and Information Software 133
5.3 Methods 135
5.3.1 Measures 135
5.4 Analysis and Results 136
5.4.1 Strategic Behavior Regarding the Types of Information Acquired 136
5.4.1.1 Cluster Analysis 136
5.4.1.2 Discriminant Analysis and Binary Logistic Regression—Types of Information Acquired and the Effect of the Characteristics, Structures, and Strategies of the Company 138
5.4.2 Strategic Behavior Regarding the Sources of Information Used 139
5.4.2.1 Factor Analysis—Sources of Information 139
5.4.2.2 Cluster Analysis—Sources of Information 140
5.4.2.3 Discriminant Analysis and Logistic Regression 142
5.4.3 CRM, Information Software, and Strategic Development 144
5.5 Conclusion 148
References 149
Chapter 6: Innovation in the Open Data Ecosystem: Exploring the Role of Real Options Thinking and Multi-sided Platforms for Sustainable Value Generation through Open Data 153
6.1 Introduction 153
6.2 The Sustainable Value of Open Data 156
6.3 The Role of Intermediaries in Open Data Ecosystems 159
6.4 The Economics of Two-Sided Markets 161
6.4.1 Example One: Opower 163
6.4.2 Example Two: INRIX 165
6.4.3 Example Three: Zillow 166
6.5 Investing in Open Data MSPs: Insights from Real Options Theory 167
6.6 Growing Sustainable Value from Open Data 171
6.7 Discussion 176
6.8 Limitations, Implications, and Conclusion 178
Notes 180
References 181
Chapter 7: Sustainability-Oriented Business Model Assessment—A Conceptual Foundation 185
7.1 Introduction 185
7.2 Background—Towards Business Models for Sustainability 187
7.2.1 Business Cases for Sustainability (The Ends) 187
7.2.2 Business Models for Sustainability (The Means) 190
7.2.3 Sustainability Oriented Business Model Assessment (The Gap) 193
7.3 A Conceptual Framework for SUST-BMA 195
7.3.1 Conceptual Approach 195
7.3.2 The Business Model Concept 196
7.3.2.1 Business Models 196
7.3.2.2 Business Model Functions 198
7.3.2.3 The Five Business Model Logics 200
7.3.3 The Sustainability Balanced Scorecard 202
7.3.3.1 Balanced Scorecard 203
7.3.3.2 Sustainability Balanced Scorecard 205
7.3.4 The Basic SUST-BMA Framework 205
7.4 The SUST-BMA Process 210
7.4.1 Defining the Unit of Analysis 210
7.4.2 Identifying Relevant Sustainability Aspects 211
7.4.3 Assessing Performance 212
7.5 Implications and Further Research 214
Notes 215
References 215
Chapter 8: Smart Decision-Making and Productivity in the Digital World: The Case of PATAmPOWER 223
8.1 Introduction 223
8.2 TIGA Beta 1.0 228
8.3 Development of Beta 2.0 229
8.4 TIGA Beta 2.0 231
8.5 PATAmPOWER 232
8.5.1 Value 232
8.5.2 Marketing 234
8.5.3 PATAmPOWER Subscription—Data as a Service 235
8.5.4 PATAmPOWER—Software as a Service 236
8.5.5 Future of PATAmPOWER 236
8.6 Conclusion 238
Chapter 9: Change Management: Planning for the Future and the Competitive Environment 240
9.1 Introduction 240
9.1.1 Future Implications 241
9.2 Drivers of Change in the Business Environment 242
9.2.1 Public Trust and Confidence in Businesses and Markets 242
9.2.2 Sustainability and Resource Issues 242
9.2.3 Climate Change 243
9.2.4 Energy 245
9.2.5 Demographics 246
9.2.6 Urbanization 247
9.2.7 E-commerce 249
9.2.7.1 Influence of E-commerce on the Market 249
9.2.8 Planning for the Future—Competing in the Contemporary Markets 251
9.3 Change and the Competitive Environment 252
9.3.1 SS-C-P (Structure-Conduct-Performance) Model 252
9.3.2 Porter’s Five Forces Framework 253
9.3.3 S-C-P Model vs. Porter’s Five Forces Framework—A Comparative Study 255
9.4 Monopolistic Competition and Five Forces 256
9.4.1 Monopolistic Competition—Main Characteristics 256
9.4.2 Monopolistic Competition—Five Forces Analysis 256
9.5 Change and Market Structures 258
9.5.1 Perfect Competition and (In)Efficiency 258
9.5.2 Efficiency of Competition 258
9.5.3 (In)Efficiency and Perfect Competition 258
9.5.3.1 Monopoly and Perfect Competition 259
9.5.3.2 Public Goods 259
9.5.3.3 External Costs and External Benefits 260
9.5.4 Imperfect Competition and Resource Allocation 260
9.6 Correcting Market Failures 263
9.7 Conclusion 264
9.8 Appendix 1: The Greenhouse Effect 265
9.9 Appendix 2: KYOTO PROTOCOL to the United Nations Framework Convention on Climate Change 265
9.9.1 Article 1 266
9.9.2 Article 28 266
9.9.3 Annex A 267
9.9.3.1 Greenhouse Gases 267
9.9.3.2 Sectors/Source Categories 267
9.9.4 Annex B 267
9.9.4.1 Party Quantified Emission Limitation or Reduction Commitment 267
9.10 Appendix 3: Confronting Climate Change, with Al Gore 268
References 269
Chapter 10: EU Operational Program ‘Education for Competitiveness’ and Its Impact on Sustainable Development 270
10.1 Introduction 270
10.1.1 Notion of Sustainable Development 271
10.2 Higher Education Institutions and Sustainable Development 272
10.2.1 History and Basic Features 272
10.2.2 Sustainable Development of the HEIs themselves—Czech Experience 273
10.2.3 Economic Situation of Czech Universities 274
10.2.4 Measures for Overcoming These Problems 274
10.3 Original Approach of the University of Economics in Prague—Faculty of Management 275
10.3.1 Specification of the Method for Evaluating the Quality of HEIs 276
10.3.2 Evaluating the Quality of HEIs 276
10.4 European Social Fund Support 277
10.4.1 Basic Approaches 277
10.4.2 EU Operational Program ‘Education for Competitiveness’ 277
10.4.2.1 Initial Education 278
10.4.2.2 Higher Education 278
10.4.2.3 Further Education 278
10.4.2.4 Lifelong Learning 279
10.4.2.5 Technical Assistance 279
10.5 Practical Examples of the Innovation Process 279
10.5.1 University of Hradec Kralove 279
10.5.2 College of Business and Hotel Management in Brno 280
10.5.3 University of Economics in Prague’s Faculty of Management 281
10.5.4 Experience of the University of Economics in Prague 281
10.5.5 Good Experience with the Innovation of Teaching Mathematics 282
10.6 Conclusion 283
References 284
Chapter 11: Applying Data Analytics for Innovation and Sustainable Enterprise Excellence 285
References 289
Index 290