Opportunities for Innovation in Social Media Analytics

Moe, Wendy W.; Schweidel, David A.

doi:10.1111/jpim.12405

Cited by 91 publications

(67 citation statements)

References 37 publications

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“…Support in the form of collaboration, coordination, and communication through IT is becoming increasingly important for innovation (Kawakami, Barczak, and Durmuşoğlu, ; Peng, Heim, and Mallick, ; Saldanha, Mithas, and Krishnan, ). For example, web‐based innovation platforms, innovation process management software, and social media facilitate information flows within and beyond the firm's boundaries (Marion, Barczak, and Hultink, ; Moe and Schweidel, ). However, to date, research does not fully understand the underlying mechanisms through which IT improves the firm's innovation performance.…”

Section: Introductionmentioning

confidence: 99%

Use and Efficacy of Information Technology in Innovation Processes: The Specific Role of Servitization

Kroh¹,

Luetjen²,

Globocnik³

et al. 2018

J of Product Innov Manag

103

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Innovation activities and, particularly, service innovations, impose high demands on a firm's information processing capabilities. IT tools are supposed to support internal and external information flows, thereby improving a firm's information processing capabilities. However, past research is indecisive about how IT tools influence innovation performance. Furthermore, past research has not considered that services have an increasingly relevant role in a firm's innovation portfolio that can complicate information processing. This study therefore draws on information processing theory and service innovation literature to develop a conceptual model that explains how IT use intensity—depending on the firm's business focus—affects innovation program performance. By using a cross‐industry, multi‐informant sample of the innovation programs of 116 firms, which were collected from 887 informants, this article provides empirical evidence that (i) intensive IT use in order to exchange information with internal and external stakeholders improves the firm‐wide market knowledge, which in turn has a positive impact on a firm's innovation program performance; (ii) the performance impact of market knowledge becomes stronger with increasing degrees of servitization; (iii) a higher degree of servitization reduces IT's use intensity. This research demonstrates the dilemma that servitized firms face: Their business focus hinders the use of IT tools, although the latter will enable them to gain more benefits from the improved market knowledge they create. Practitioner Points Intensive IT use positively influences the firm‐wide innovation performance. The intensive use of IT tools to strengthen internal information flows and IT tools to support exchange with external stakeholders increase a firm's market knowledge, which enhances the innovation program performance. Service innovations have higher information requirements than product innovations and profit therefore more from intensive IT use, but services' complexity hinders IT implementation. Firms with a higher degree of servitization use less IT, although they can profit more from the market knowledge IT tools create. Servitized firms need to install a flexible, modular, and open IT system for efficient IT use and to include all relevant internal and external stakeholders.

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Section: Introductionmentioning

confidence: 99%

Use and Efficacy of Information Technology in Innovation Processes: The Specific Role of Servitization

Kroh¹,

Luetjen²,

Globocnik³

et al. 2018

J of Product Innov Manag

103

View full text Add to dashboard Cite

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“…This is in line with the opinion expressed by Foray et al [6], Domenech and Koster [7] and Rosmadi [8] that small business activities (microeconomics) that are carried out seriously and are supported by the power of innovation and creativity of their business actors have a positive impact on increasing people's income and as a support for community welfare. This opinion is supported by research conducted by Moe and Schweidel [32], Veloutsou and Moutinho [33], and Ahmed and Ibrahim [34] that businesses in promoting and marketing their products must have the right business strategy in order to accepted by consumers and increasing business transactions.…”

Section: Resultsmentioning

confidence: 88%

Contribution of Social Media in Increasing Marketing of Creative Economy Product

Romdonny¹,

Maulany²

2020

Proceedings of the 1st International Conference on Accounting, Management and Entrepreneurship (ICAMER 2019)

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Entering the digital era, social media is the right tool for creative economy ventures and consumers to conduct business transactions without being limited to time and space. Therefore, the aim of this research is to find out how much the contribution of social media in increasing the marketing of creative economy products. The method used is a qualitative method with descriptive analytical and exploratory approaches. Data collection techniques use triangulation, which is collecting different data from the same source using direct observation, indepth interviews and documentation that are carried out simultaneously at the same time. The results showed that social media contributed greatly to the marketing of creative economy products. The main obstacle faced by creative economic ventures is related to the quality of human resources in mastery of internet technology and limitation in capital. The role of central and regional government and banking institution can be expected to develop creative economic ventures.

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“…As reported in several articles in this Special Issue, new and emerging approaches can now capture the complexity of IM phenomena by blending qualitative and quantitative methods, often facilitated by improvements in computational and data processing capabilities and digital access to larger datasets. Examples include FSCQA (Kraus et al, 2018), social media analytics (Moe and Schweidel, 2017; Suseno et al, 2018), and other forms of big data analysis (e.g., Lee et al, 2008; Kim et al, 2015).…”

Section: Turning Challenges Into Opportunities For Im Researchmentioning

confidence: 99%