Industry hopping and business transformation for non-data driven businesses

Introduction:

The landscape of global business has been profoundly reshaped over the last decade by Data Driven Businesses (DDBs) such as Airbnb, Amazon, Alibaba, Uber, Didi, and Grab. These companies have demonstrated an unparalleled capacity to dominate market sectors without traditional assets like hotels, retail spaces, or vehicles, instead leveraging a key resource now recognized as corporate data. Their meteoric rise from the peripheries of the Fortune 500 list in 2008 to commanding positions by 2018 underscores a paradigm shift in how businesses create value and engage with consumers. However, this transformation has largely sidelined Non-Data Driven Businesses (NDDBs) and individuals, the co-creators of this valuable data, from the value chain of the personal data economy. This project aims to academically and practically explore this phenomenon, focusing on the utilization of data by NDDBs in the wake of regulatory changes such as the General Data Protection Regulation (GDPR) and the 2nd Payment Services Directive (PSD2).

Project Overview:

The primary objective of this PhD project is to investigate how NDDBs can harness both corporate and personal data to innovate and compete in the rapidly evolving data-driven economy. With recent regulatory changes empowering individuals with unprecedented control over their personal data, there exists a unique opportunity for NDDBs to access and utilize high-quality, contextual personal data through Private Data Accounts (PDAs). PDAs, akin to individual bank accounts for personal data, present a new frontier for enhancing digital privacy while enabling economic benefits for individuals and NDDBs alike.

Possible Research objectives:

*To understand the current landscape and challenges faced by NDDBs in leveraging data for business innovation, focusing on the impact of recent regulatory changes on data access and utilization.

*To explore the concept and potential of Private Data Accounts (PDAs) as a mechanism for individuals and NDDBs to acquire, use, and share data for economic benefits, within the bounds of digital privacy.

*To develop practical frameworks and models for NDDBs to create and deliver data-driven products and services, transforming their business strategies to thrive in a data-driven economy.

*To engage with business partners and NDDBs in collaborative research, understanding their cyber-physical competences and facilitating the development of new data-driven products and services.

Possible Methodology:

This project will employ a mixed-methods approach, combining qualitative and quantitative research to gather insights from NDDBs, regulatory bodies, and consumers. It will include case studies, surveys, and data analytics to understand the competences, capabilities, and readiness of NDDBs to transition to data-driven models. The project will also involve the development and testing of pilot data-driven services in collaboration with NDDB partners, assessing their impact on business performance and consumer engagement.

Possible Impact and Contributions:

The project aims to contribute significantly to the academic understanding of the data economy and the practical capabilities of NDDBs to engage in this space. By developing frameworks and models for leveraging PDAs, this research seeks to democratize the benefits of the data economy, ensuring that NDDBs and individuals can actively participate and derive value from their data. This project will not only provide a roadmap for NDDBs to navigate the data-driven landscape but also contribute to the broader discourse on digital privacy, data protection, and economic innovation.

We are seeking highly motivated and innovative candidates with a background in business, economics, data science, or related fields. Prospective candidates should possess a strong interest in data-driven business models, digital privacy, and regulatory impacts on the economy. Experience in qualitative and quantitative research methodologies is highly desirable.

Nottingham Business School is triple crown accredited with EQUIS, AACSB and AMBA – the highest international benchmarks for business education. It has also been ranked by the Financial Times for its Executive Education programmes in 2023 and 2024. NBS is one of only 47 global business schools recognised as a PRME Champion, and held up as an exemplar by the United Nations of Principles of Responsible Management Education (PRME). 

Its purpose is to provide research and education that combines academic excellence with positive impact on people, business and society. As a world leader in experiential learning and personalisation, joining NBS as a researcher is an opportunity to achieve your potential.

Applications for October 2024 intake closes on 1st August 2024 and applications for Jan 2025 intake closes on 1st October 2024.

*** for all applicants ***

Understand Our Centre:

The PhD will be conducted under the Centre for Business and Industry Transformation (CBIT). Applicants MUST familiarize themselves with CBIT via:

• CBIT – Centre for Business and Industry Transformation
• CBIT Venture Building

Entrepreneurial Mindset Required:

Our projects are highly practical and require an entrepreneurial approach with a growth mindset. You will need to think innovatively and navigate complex challenges. Do NOT apply if this may be too demanding.

Proposal:

We expect applicants to have significant working experience and existing datasets. Submit a PhD proposal including:

• A clear outline of the data you will collect
• Specific details of how you will access these datasets

Additional Documents:

Along with your proposal, please include the following:

• A copy of your CV
• A 2-page document pitching yourself as an investable PhD candidate.

Submission Instructions:

1. Email all required documents (Proposal, CV, 2-pager pitch) to [email protected].
2. Failure to submit all requested documents will result in no reply.