Entry Date:
September 21, 2016

How Companies Effectively Use Data to Create Competitive Products and Services

Commoditization pressures and shifting consumer expectations have inspired many companies to use data to enrich core products and services, a phenomenon that we call wrapping. Companies wrap offerings with data to differentiate them and to add value to customers, which increases product- or service-related outcomes that include price, sales, and loyalty. The best companies build distinctive competencies for wrapping and then coordinate wrapping’s unique practices with those established to help organizations improve and/or sell. This study will investigate wrapping competencies for high-performing firms -- and identify the most effective ways that firms coordinate wrapping with improving and selling activities.

Research questions include:

(*) What practices do firms put in place to wrap in ways that differentiate products/services, add value to customers, and ensure legal and ethical data use?
(*) How do IT and the product management functions perceive the effectiveness of wrapping practices?
(*) How do wrapping practices impact important firm outcomes?
(*) How do companies effectively coordinate wrapping with improving and selling activities?