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Management Journal Article hero
Management Journal Article

Why Smart Companies Are Giving Customers More Data

Companies are discovering the benefits of data wrapping — packaging their products with data analytics features and experiences that delight customers and increase profitability.
By Barbara H. Wixom, Ronny Schüritz, and Killian Farrell
Abstract

Companies can benefit from an emergent approach to data monetization we refer to as data wrapping. With this approach, a company's product are "wrapped" in data analytics features and experiences that help and delight customers, with profitable results. The tendency for most companies is to draw upon preexisting business intelligence groups, data platforms, and analytics talent for data wrapping. However, the capabilities, processes, and skills that historically helped the company use data analytics to do things better, cheaper, and faster are insufficient for producing data analytics that delight customers.

About the Authors

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Ronny Schüritz, Cofounder and co-CEO of prenode, and Senior Research Adviser and Lecturer, Karlsruhe Institute of Technology

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Killian Farrell, Master of Business Analytics Candidate, Class of 2020 MIT Sloan, Operations Research Center

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Founded in 1974 and grounded in MIT's tradition of combining academic knowledge and practical purpose, MIT CISR helps executives meet the challenge of leading increasingly digital and data-driven organizations. We work directly with digital leaders, executives, and boards to develop our insights. Our consortium forms a global community that comprises more than seventy-five organizations.

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