DATA-ORIENTED BUSINESS MODELS: GAINING COMPETITIVE ADVANTAGE

Peter Geczy

Global Journal of Business Research, 2018, vol. 12, issue 2, 25-36

Abstract: Data has been widely regarded as a new treasure throw for contemporary organizations. Information technology sector has been experiencing a major shift towards data orientation. A recent explosion of digital data has significantly influenced a number of other economic sectors in developed economies. Exponential growth of data is expected to continue in a foreseeable future. Capitalizing on this trend is gradually becoming a necessity for contemporary businesses. Extracting value from data is a substantial challenge. Data acquisition is the starting point. Efficient processing of collected data is the next stage. Suitably processed data is used for designing data products and services. At each stage, there are significant opportunities for value creation and monetization¡ªthe core aspects of business models. Data-oriented activities also provide opportunities for gaining competitive advantage. Despite the growing importance of data-driven innovation, there is a considerable absence of studies addressing data-oriented business models. We explore the essential elements and enablers of viable data-oriented business models and pathways to competitive advantage

Keywords: Data-Oriented Business Models; Data-Driven Innovation; Data Economy; Data Engineering; Data Products; Data Services; Actionable Knowledge (search for similar items in EconPapers)
JEL-codes: C8 C81 C82 C88 D7 D8 D81 M15 (search for similar items in EconPapers)
Date: 2018
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