Whether streaming video, shopping online, navigating with a smartphone or surfing the internet on a daily basis - we all leave a multitude of digital data traces behind us. This data is increasingly becoming a key competitive resource for media companies and forms the basis for new business models. Meta, for example, uses a wealth of data points to sell customized advertising space, while Netflix analyzes the viewing behavior of its viewers and the content of films and series to make personalized recommendations. The collection, analysis and processing of data and its strategic inclusion in new products and business models will therefore become key skills for media managers in the future.
As part of the seminar "Data Driven Business Model Generation" and a corresponding lecture series at the Institute for Journalism and Communication Research (IJK) at the Hanover University of Music, Drama and Media, we delved deeper into the changing demands on media companies and the fundamentals of data-driven business models.
In the seminar, students learned (1) which extensive data sets are available or collected in (media) companies, (2) how this data is methodically processed and made usable and (3) how business models are developed around this data. Didactically, we combined the analysis of case studies, experience-based methodological learning (in particular the basics of computational science) and business model analysis based on the Business Model Canvas. There was also an excursion to Berlin to visit selected companies whose business increasingly relies on data as a key resource.
As part of the lecture series, renowned experts delved deeper into the topic. The guest lectures dealt with technological foundations, the role of artificial intelligence, data protection issues and the ethical and societal consequences of data-based business models. In industry-specific lectures, experts also presented data-driven business models in the advertising industry, the publishing industry, the television and film industry and the music industry.
As part of DDLitLab in Dialogue, Prof. Dr. Christopher Buschow and Dr. Daniel Possler will now report on their concept. We look forward to your participation, you can register at the bottom of the page. However, the event will be in German only!
