Big Data and Value Chains: The New VC4.0 Research project
After two intense working years, the Global Value Chain Center (VC4.0) finalized its first project at the end of 2014. The outcome of the research has been published as a book. "The Value Chain Shift: Seven Future Challenges Facing Top Executives".
The new research project the center is embracing focuses on big data and value chains. Big data is expected to transform value chains fundamentally, generating many potential opportunities that still do not have a clear implementation framework. We are now starting to see a growing need to apply value chain concepts to big data. There is therefore the need to define an open Forum in which value chain top executives can discuss openly and prepare for this new scenario. This new project was launched in May 2015 with a one-day open event. Several experts with different backgrounds shared their views on the latest trends at the intersection of big data and value chains. The high-level discussions allowed participants to express their concerns about the future and look jointly for potential solutions.
Based on these conversations, the research agenda was agreed, focusing on three areas:
- Elaborate the approach that companies have towards big data, their criteria and the priorities they have to define their business strategy: where should they invest? Are they ready to use big data?
- Propose requirements for implementing company big data strategy
- Outline the processes that define the big data strategy start point, from top-down to bottom-up
The outcome of the VC4.0 research has been published as a book in May 2016: "Strategy is Digital - How Companies Can Use Big Data in the Value Chain".