Sharing Economy and Big Data Analytics. Soraya Sedkaoui

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target="_blank" rel="nofollow" href="#u0891b6ef-6f66-5635-87ec-27615261ba02">Chapter 4, “Digital Platforms and the Sharing Mechanism”, highlights the involvement of digital platforms in the process that is revolutionizing the context of sharing in economy. Although there is some reluctance to make this spirit of exchange a reality in commercial transactions through digital platforms, they still play a major role in spreading the values associated with exchange between individuals.

       Part 2: Big Data analytics at the service of the sharing economy

      Chapter 5, “Beyond the Word ‘Big’: The Changes”, provides an overview of the basic concepts related to Big Data, while illustrating the changes that have led to this phenomenon. This chapter will also highlight the importance of data for businesses and how it can increase their efficiency.

      Chapter 6, “The Art of Analytics”, covers the most basic form of data analysis, from descriptive analysis to prescriptive analysis, by covering predictive analysis. This chapter is also an opportunity to discover the different steps of the data analysis process.

      Chapter 7, “Data and Platforms in the Sharing Context”, presents an overview of Big Data applications. These applications come from the business world and show the interest that large companies take in this phenomenon. This allows understanding the power of data and the importance of digital platforms when realizing the strategies of the sharing economy companies. This chapter thus addresses the different challenges related to data and highlights the importance of data openness.

      Chapter 8, “Big Data Analytics Applied to the Sharing Economy”, is detailed enough and potentially useful in order to build a global approach around the subject. This chapter demonstrates that the successful implementation of the data-driven culture is an important factor to carry out sharing economy practices. It reviews different Machine Learning algorithms and advanced technological tools for data analysis.

       Part 3: The sharing economy? Not without the Big Data algorithms

      This last part presents a range of advanced data analysis algorithms, including regression, classification and cluster analysis. It provides a set of techniques to anyone who wants to generate value from data based on the data analysis process. Using practical examples, we introduce fundamental principles of the Big Data analytics process.

      Chapter 10, “Classification Algorithms” , revisits the origin of supervised learning and introduces the most common classification algorithms. This chapter is an introduction to the fundamental principles of different techniques that help to better classify data. Using the same Airbnb database, this chapter will illustrate the most significant features in the model definition.

      Chapter 11, “Cluster Analysis”, moves the focus to another sub-domain of Machine Learning: unsupervised learning. This chapter will examine clustering algorithms, mainly k-means and hierarchical classification. To better understand the principles discussed throughout this chapter, a practical example will be introduced in order to show how to find groups of objects that share a certain degree of similarity.

      In conclusion, our ambition is to make this book one of the first basic references of the sharing economy practices boosted by Big Data. We hope that this book will open up new horizons for you, by presenting new approaches that you may not have known before. We also hope that this will help you sharpen your curiosity and stimulate your desire to learn more about it.

      1 1 Jean-Louis-Auguste Commerson.

PART 1 The Sharing Economy or the Emergence of a New Business Model

      1

      The Sharing Economy: A Concept Under Construction

      What cannot be eschew’d must be embraced.

      William Shakespeare

      The Merry Wives of Windsor, Act V, Scene 5

      For more than 20 years, society’s behavior has changed in terms of daily consumption.

      In the interest of economic rationality, people, without knowing each other or being part of the same family, agree to live together, travel in the same vehicle, work in the same space and participate in common projects. They decide to join forces in activities such as production, distribution and consumption.

      In other words, they have a new approach to economics, which involves collaboration and a spirit of sharing: it is commonly referred to as “the collaborative economy” or “the sharing economy”.

      A question challenges us: why did this concept appear?

      Several factors have contributed to the advent of the sharing economy: the development of IT tools and mobile technology (smartphones, tablets), the globalization of the economy, the global economic crises and the environmental watch fueled by ecological awareness of the negative externalities of economic activity.

      We cannot consider the theme of sharing as recent, since the exchange of goods and services has existed, in many different ways, for a very long time: agricultural mutual cooperatives, insurance mutual and agricultural cooperatives already existed before the 21st Century. In other words, the idea of enjoying the good or service without owning it was part of people’s consumption strategies.

      Also, the expansion of the sharing economy responds to the contemporary demands of people concerned

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