Business strategies for data monetization: Deriving insights from practice

Julius Baecker, Martin Engert, Matthias Pfaff, Helmut Krcmar

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

11 Scopus citations

Abstract

Although increases in available data have inspired companies' interest in creating and extracting value from it, many lack the insight and guidance to assess the potential data offer. To address this issue, we conduct a systematic literature review to create a universe of 102 real-world cases from diverse industries with regard to the use of data. Based on an analysis of these cases, this paper provides a set of 12 generic strategies for monetizing data, ranging from sole asset sale to strategically opening data and guaranteeing control. This study supports business practice by aggregating the wide range of established approaches of data monetization from practice for operational purposes. It advances theoretical understanding of value capturing from data and suggests important avenues for future work in this emerging field of research.

Original languageEnglish
Title of host publicationProceedings of the 15th International Conference on Business Information Systems 2020 "Developments, Opportunities and Challenges of Digitization", WIRTSCHAFTSINFORMATIK 2020
PublisherGITO Verlag
ISBN (Electronic)9783955453350
DOIs
StatePublished - 2020
Event15th International Conference on Business Information Systems 2020: Developments, Opportunities and Challenges of Digitization, WIRTSCHAFTSINFORMATIK 2020 - Potsdam, Germany
Duration: 8 Mar 202011 Mar 2020

Publication series

NameProceedings of the 15th International Conference on Business Information Systems 2020 "Developments, Opportunities and Challenges of Digitization", WIRTSCHAFTSINFORMATIK 2020

Conference

Conference15th International Conference on Business Information Systems 2020: Developments, Opportunities and Challenges of Digitization, WIRTSCHAFTSINFORMATIK 2020
Country/TerritoryGermany
CityPotsdam
Period8/03/2011/03/20

Keywords

  • Big data
  • Data monetization
  • Data-driven business models
  • Datadriven decision making

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