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This book explores the employment of market mechanisms for data-interactive innovations. Based on the concept of innovators' marketplaces the book introduces a new concept of 'data jackets' to enable analysis of what kind of data exist, where they are located, and what kind of information they hold, even if the contents of data cannot be made publicly available. The book presents the concept of a marketplace for data in the case of data-interactive innovations. It introduces the marketplace as a platform for value-based exchange of data and - based on the idea of the innovators' marketplace - explains how data jackets can be utilized independently from the actual contents of the data. Specific chapters deepen the understanding of variables, constraints and intentions as constituent parts of data jackets, and the extension to variable quest, a process towards the design of data. A number of case studies showcases how the methods and processes presented can be employed in real-life contexts. Finally the authors present some extensions of the concept for web-based IMDJ and connections to business information system and an outlook.

AbstractDeciding when and which products to recommend to whom is always an essential issue for retailers. In this study, we propose a mixed framework with two components to capture customer buying behavior and its changes over time and visualize these results to better help retailers choose and target products strategically for marketing. In this framework, a topic model is first used to extract customer's purchase behavior instead of association rules or K-means as mainly used in market field. To automatically choose the optimal number of topics, we implement an approach proposed by Koltcov et al. on point-of-sale (POS) data in the supermarket. Meanwhile, to grasp the change of topics over time, we divided monthly POS data in half and applied the topic model with Renyi entropy separately. The results suggest that splitting data might be a better way to understand customer behavior. Second, we consider how to develop an effective way to visualize the results of the topic model, which is essential, because in a supermarket context, simply knowing which product categories are included under which topics is not enough to support how a supermarket promotes their products. To address this, we design a three-layer visualization approach to better interpret the topic model results and to help retailers design target promotion strategies. The design of visualization was overlooked by studies related to the use of topic models on supermarket data. Finally, to demonstrate the usefulness of our proposed framework, we conduct a simple scenario-based analysis between our framework and other models, such as Latent Dirichlet Allocation (LDA) and the Dynamic Topic Model (DTM). The results show that for most periods, our proposed framework outperforms LDA and DTM.

AbstractWe study the method for detecting relationship changes in financial markets and providing human-interpretable network visualization to support the decision-making of fund managers dealing with multi-assets. First, we construct co-occurrence networks with each asset as a node and a pair with a strong relationship in price change as an edge at each time step. Second, we calculate Graph-Based Entropy to represent the variety of price changes based on the network. Third, we apply the Differential Network to finance, which is traditionally used in the field of bioinformatics. By the method described above, we can visualize when and what kind of changes are occurring in the financial market, and which assets play a central role in changes in financial markets. Experiments with multi-asset time-series data showed results that were well fit with actual events while maintaining high interpretability. It is suggested that this approach is useful for fund managers to use as a new option for decision-making.

AbstractIn recent years, rather than enclosing data within a single organization, exchanging and combining data from different domains has become an emerging practice. Many studies have discussed the economic and utility value of data and data exchange, but the characteristics of data that contribute to problem-solving through data combination have not been fully understood. In big data and interdisciplinary data combinations, large-scale data with many variables are expected to be used, and value is expected to be created by combining data as much as possible. In this study, we conducted three experiments to investigate the characteristics of data, focusing on the relationships between data combinations and variables in each dataset, using empirical data shared by the local government. The results indicate that even datasets that have a few variables are frequently used to propose solutions for problem-solving. Moreover, we found that even if the datasets in the solution do not have common variables, there are some well-established solutions to these problems. The findings of this study shed light on the mechanisms behind data combination for solving problems involving multiple datasets and variables.