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The wide development of digital platforms permitted the birth of new financing modalities, namely, crowdfunding, where the crowd of individuals and investors can supply the necessary financial resources for venture creation and growth. While the extant literature has focused on analyzing the dynamics and features of crowdfunding campaigns, few studies have focused on understanding how crowd investors decide which ventures to invest in and which factors influence their decision-making process. Due to this gap, the purpose of this paper is to analyze the factors influencing the choice to invest in an equity crowdfunding campaign, by defining a set of indicators useful to evaluate the risk of the campaign.

An empirical research study of Italian equity crowdfunding campaigns has been conducted to identify quantitative indicators useful for evaluating the risk in a crowdfunding campaign.

Findings demonstrate that the risk indicators proposed to represent important gauges that investors can usefully consider ex ante to assess the degree of riskiness of the investment in the equity crowdfunding campaign.

The limitations of the study regarding the size of the sample that is small due to the necessity to extract enough information in pre and post-equity campaigns. Also, the lack of historical data is another limitation.

The originality of the studies relies on the proposal of quantitative indicators for the evaluation of the risk in equity crowdfunding campaigns for “crowd” investors to reduce information asymmetries.

This paper aims to demonstrate how customer knowledge management (CKM) can opportunely support the process of value creation from Big Data. Focusing on tourism as a knowledge-intensive industry, the paper tries to contribute to the debate on management of Big Data by proposing CKM as a meaningful approach for transforming the huge amount of data available on social networks into valuable assets for competitiveness of tourism destinations.

The paper adopts a qualitative research methodology based on multiple exploratory case studies identified in a set of digital local events related to the Apulia destination (southern Italy).

Research findings demonstrate that the three dimensions of CKM (knowledge for, from and about customers) could be adopted as lens for analyzing the huge amount of data created for, from and about tourist experiences and for transforming them into valuable assets supporting the competitiveness of tourism destinations.

Limitations are related to the industry and the regional dimension of the sample. Accordingly, more research is necessary to prove the validity of the approach and to assure its larger replicability.

Implications for the agenda of organizations and destinations’ makers for designing and implementing knowledge-based services and products arise.

Elements of originality reside into the adoption of CKM as framework to analyze Big Data in the tourism industry.