IBIT News

The Business Value of Big Data: Insights from Temple University’s 2012 Big Data Conference

The Institute for Business and Information Technology (IBIT) is pleased to announce the release of The IBIT Report – The Business Value of Big Data: Insights from Temple University’s 2012 Big Data Conference authored by David Schuff, Temple University, Larry Dignan, ZDNet, Paul A. Pavlou, Temple University, Suja Chandrasekaren, Wal-Mart Stores, Inc., Clark Frogley, Chartis Global Investigative Services, Adrian Gardner, NASA Goddard Space Flight Center, James Golden, Accenture, and William Stolte, Merck.

In this report, we discuss that while big data has received great attention, the question of how to create value remains open. What remains to be seen is whether companies will be able to navigate the never-ending flow of information to create real insight. This topic was directly addressed at Temple University’s first Big Data Conference, hosted by the Fox School of Business. Seventeen speakers from the retail, pharmaceutical, technology, aerospace, insurance, education, consulting, and public sectors shared stories, examples, and best practices on Big Data. This report summarizes their insights, highlighting several illustrative use cases from Chartis, Merck, and Accenture. The report also presents several key takeaways as well as a list of “Do’s and Don’ts” for organizations looking to get started with big data..

Global IDs joins IBIT

Global IDs, founded in 2001, is the newest member of the Fox School’s Institute for Business and Information Technology (IBIT). Global IDs mission is to develop agent-based integration solutions that can accomplish integration across hundreds of systems. The company created the world’s first data integration software that employs intelligent mobile agents for large-scale integration tasks. Their solutions make it possible for large global companies to address the integration tasks that are required to improve business performance analysis.

Dr. Arka Mukherjee, CEO will represent Global IDs in Fox IBIT activities.

Learn more about Global IDs at http://globalids.com/

Online Labor Markets: An Informal “Freelancer Economy”

The Institute for Business and Information Technology (IBIT) is pleased to announce the release of The IBIT Report – Online Labor Markets: An Informal “Freelancer Economy” authored by Kevin Yili Hong, Temple University and Paul A. Pavlou, Temple University.

In this report, we discuss three aspects of online labor markets. First, we give an overview of the current state of major online marketplaces that offer intermediary services for buyer companies and IT professionals with a focus on one marketplace in particular – Freelancer. Second, we show some findings on the measurable economic benefits online labor markets provide to companies that outsource IT services (measured with consumer surplus) and what factors contribute to higher buyer satisfaction. Third, we offer a novel perspective on the frictions that exist in the micro-level interactions between buyer companies and service providers given the global nature of these markets and how reputation signals can alleviate these frictions. Finally, we offer practical implications and recommendations for companies that use these marketplaces to outsource IT services to professionals across the globe.

Crowdfunding: Tapping into the Wisdom (and Wealth) of Crowds

Crowdfunding - THE IBIT REPORT The Institute for Business and Information Technology (IBIT) is pleased to announce the release of The IBIT Report – Crowdfunding: Tapping into the Wisdom (and Wealth) of Crowds authored by Gordon Burtch, Temple University, Anindya Ghose, New York University, and Sunil Wattal, Temple University.

This report examines a new application of crowdsourcing focused on the generation of funding for ideas initiated by others. While news articles and reports on crowdfunding have cited the success of numerous campaigns, the majority of efforts have actually failed. A better understanding of the design of campaigns and the management of the required platform can result in success. The report discusses opportunities, benefits, and pitfalls and demonstrates how the crowdfunding marketplace has the potential to be an innovation hub and improve open innovation practices. The report also provides suggestions on how businesses can leverage crowdfunding concepts, how to conduct a crowdfunding campaign, and how to influence contributor behavior.

Fox School of Business and IBIT announce $50,000 Big Data Grant Program

IBIT’s Big Data Conference attracted 119 attendees, of whom 89 percent were practitioners representing 57 firms. The conference featured 19 speakers from companies such as Walmart, NASA, Campbell Soup, Chartis, Lockheed Martin, Merck, Pfizer, Independence Blue Cross, Wawa and others.

The conference had 12 sponsors, including well-known Big Data practitioners such as Accenture, SAP and GreenPlum, as well as local startups such as ColdLight and Global IDs. IBIT members Lockheed Martin, Campbell’s, Merck, LiquidHub, Sabre Systems and Transaction Network Services also sponsored the conference. More information is available at http://bigdata.temple.edu. The Sept. 27 Big Data conference was the second big data event organized by IBIT in 2012. A Big Data Symposium was held May 21.

Members of the Big Data Conference/Grant Program Committee will review proposals, which can be sent to IBIT Director Laurel Miller at Laurel.Miller@temple.edu.

Big Data Conference/Grant Program Committee

George Llado, Vice President, Merck
Jonathan Brassington, CEO, LiquidHub
Craig Conway, Chief Technology Officer, Transaction Network Services
Jeff Hamilton, Senior Vice President, Business Technology, Pfizer
James Golden, Lead Partner, Analytics Practice, Accenture
Paul Pavlou, Professor, Management Information Systems, Fox School of Business
David Schuff, Associate Professor, Management Information Systems, Fox School of Business
Munir Mandviwalla, Associate Professor and Chair, Management Information Systems, Fox School of Business

For more information on Temple’s Institute for Business and Information Technology, visit http://ibit.temple.edu.