En route for the "sexiest job of the 21st century?"

 

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HEC PARIS KNOWLEDG@HEC Food for Though for Business Leaders

Newsletter #17
April 2017

 

 

 


This special issue of HEC Knowledge highlights several research projects and teaching initiatives at HEC Paris in the context of big data and business analytics. Nowadays it does not take much to convince students or managers alike of the importance of data for businesses. As Wedel and Kannan (2016) put it, “data is the oil of the digital economy”. Indeed, data is completely transforming organizations, and data-driven decision making is becoming more and more a part of a company’s core. In an increasing digital world, all of us are walking data generators, leaving long data trails: we have more data on everything. Read full text...


 

Marketing Strategy

 

Marketing Strategy

Peter Ebbes

 

 

 

Widening the scope of your CRM campaigns to take advantage of customer social networks

 

 

Marketing campaigns traditionally target individual customers, while ignoring their social connections. In a recent study, however, Eva Ascarza, Peter Ebbes, Oded Netzer, and Matt Danielson, had unique access to telecommunications data and a field experiment that enabled them to take a first-ever look into the effects of a traditional customer relationship marketing campaign on social connections.

 

 

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Business environnement

 

Consumer Behaviour

Valeria Stourm

 

 

 

Why consumers stockpile rather than spend loyalty-program points

 

 

Consumers tend to accumulate loyalty cards in their wallets and unused points on those cards, creating either liabilities or deferred revenue for retailers. A team of researchers has developed a model that explains this hoarding behavior and offers suggestions to improve loyalty reward program structures.

 

 

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Computer Science

Mitali Barnejee

 

 

 

Can algorithms measure creativity?

 

 

Creative breakthroughs in art, music, and science profoundly impact society, and yet our understanding of creativity and how it is valued remains limited. To better understand creativity and how creative output is valued in society, a researcher is using a computational model, based on big-data approaches, to evaluate the creative merit of artworks.

 

 

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Performance Management

 

Financial Reports

Xitong Li

 

 

 

New computer-friendly format makes financial reports more complex, harder to read

 

 

In a bid to make it easier for financial reports to be processed by computers, these must now be submitted to the U.S. Securities and Exchange Commission in a new language in addition to the traditional HTML format. In their recent study, Xitong Li, Hongwei Zhu and Luo Zuo show that submitting computer-readable reports makes firms produce more complex, harder to read HTML-formatted financial reports.

 

 

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Performance Management

 

Focus

Gilles Stoltz

 

 

 

How to prepare for the future by aggregating forecasts

 

 

Our ongoing machine-learning research at HEC Paris helps managers paint a clearer vision of the future. By programming a computer to aggregate lots of different forecasting methods – of which there are many – managers are no longer faced with the difficult decision of which one to choose.

 

 

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Performance Management

 

Big Data and Law

David Restrepo Amariles

 

 

 

Learning algorithms: lawmakers or law-breakers?

 

 

In everyday technologies, learning algorithms are becoming ubiquitous. They are even changing the way laws and regulations are produced and enforced, with law increasingly determined by data and enforced automatically. In his study, David Restrepo Amariles investigates how learning algorithms are developing SMART Law to improve the quality of regulations and their enforcement, and how this can be achieved without infringing on our civil liberties and the rule of law.

 

 

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Performance Management

 

Point of View

Education

 

 

 

En route for The “sexiest job of the 21st century?

 

 

Big data has been a key challenge for many sectors or industries such as aeronautical, transport, consultancy, banking and insurance, energy, telecommunication and, of course, digital, e-commerce and media. 3 billion internet users generate 50 Trillion objects (To) of data per second, a figure which is set to increase forty-fold by 2020. Today, the development of analytical skills for business and management has become a necessity. To respond to this need, HEC Paris is investing with a new joint Master Big Data for Business in collaboration with l’Ecole Polytechnique, set to begin in September 2017. It will provide students with the tools necessary to transform the data into useful knowledge and strategic decisions. After all, even Harvard Business Review has dubbed the occupation of data scientist “The Sexiest Job of the 21st Century”…

 

 

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