Immagine that a business model described in “New IT Innovation Development NITID: Tripadvisor Case Study” is in place where new data is available for Tripdavisor:
1) the receipt (WHAT)
2) the client user ID (WHO)
3) the GEO position of the restaurant (WHERE)
The purpose of collecting such data is to ensure a better service for customers by ensuring an effective countermeasure against Negative SEO tactics.
Anyhow, is this really all? How such a new data availability might be exploited? This is the aim of the NITID method: find new business opportunities that might arise from data.
Commonly, in a creative process, the first step is brainstorming. By putting all the ideas on the table without any kind of criticism, judgments and filters, here below a list of new business opportunities that a brainstorming session applied to the Tripadvisor case might generate:
1) Facilitate the process of the reviews for users by updating a list of “pending reviews” to fill once a new bill in a restaurant\hotel has been recorded. In such a way the user, when log in to TripAdvisor’s website, doesn’t need to search for the restaurateur to be reviewed since a pending review connected to the restaurant\hotel is available Furthermore, the number of total reviews will increase since the review process has been simplified for customers.
2) Create “customer experiences” through new visualization charts such as a map of visited restaurants and hotels and\or a social network that connect users together in order to share the experiences.
3) Engage customers by creating synergies with loyalty programs and companies (e.g.: Nectar) and provide gifts to customers who deliver more reviews.
4) Provide statistics and reports that might be useful to restaurateurs and hotel managers: trends, demand forecast, seasonality, sentiment,….
5) Establish an integrated supply chain by providing further additional services to restaurateurs and hotels. In particular, the demand forecasts should be shared with restaurateurs and hotels’ suppliers by recording all the food\goods consumed by linking them with the receipt. For example, a week in a room requires three units of soap or for cooking a steak in a restaurant are needed 100 grams of meat plus 1 mg of salt and 5 grams of olive oil. By using this data it’s possible to establish a logistic platform that might provide a competitive advantage both for buyer (restaurateurs and hotels) and suppliers. In particular, buyers, and especially small entrepreneurs that cannot invest and maintain complex IT infrastructures, might improve theirs inventory turnovers by having a more granular and detailed consumption of material. Meanwhile, local suppliers might have additional information regarding consumptions and level of inventories of theirs clients and thus enable more frequent on time deliveries and\or with a small amount. Such a solution might be useful for enabling an advanced Demand Driven Supply Chain (DDSC). EBay’s already told us with its “same day delivery” business model where small retailers have became a network of a distribuited inventory (see: “EBay expands same-day delivery in local battle with Amazon“).
Maybe, or better for sure, there are many and many issues regarding those new business opportunities:
Why changing and expanding the business model of Tripadvisor beyond core activities?
Why to invest in new relations, IT infrastructure, and skills?
What about the issue of data privacy?
Anyhow, making questions, having doubts and putting barriers are not allowed when brainstorming.
As when dreaming:
Logic will get you from A to B. Imagination will take you everywhere (Albert Einstein).
Feelink – Feel & Think approach for doing life!