Advancing data monetization and the creation of data-based business models

Petri Parvinen, Miikka Laitila, Essi Pöyry, Robin Gustafsson, Matti Rossi

Research output: Contribution to journalArticleScientificpeer-review

Abstract

Although big data has been under discussion for years, research thus far has scarcely touched on directly selling and monetizing data assets. This aspect is of particular relevance given recent concerns about data privacy and security and the simultaneous explosion in the use of data for marketing and service-development purposes. In this paper we describe an empirical study on companies’ initiatives concerning the selling and monetization of data. We categorize the relevant business models based on the dimensions of their customer refinement and their scalability. The research reveals a number of constraints (organization type, business type, data characteristics, privacy, and security) that companies should address to move from the internal use of data and supporting existing customers to generating new business through selling data. Based on the findings, we propose for practitioners’ ways of benefiting from the data. For researchers, we provide directions for future studies that include developing strategies that foster compliance between companies’ aspirations and consumer and societal restrictions and facilitate data-based innovation and revenue generation.
Original languageEnglish
JournalCommunications of the association for information systems
Publication statusAccepted/In press - 2020
MoE publication typeA1 Journal article-refereed

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