Profiting from data products

Llewellyn D.W. Thomas, Aija Leiponen and Pantelis Koutroumpis

Chapter 14 in Research Handbook on Digital Strategy, 2023, pp 255-272 from Edward Elgar Publishing

Abstract: While companies are increasingly investing in data assets and practices, the competitive and regulatory environment is rapidly changing and creating uncertainty about business models for data products. In this chapter we develop a conceptual framework to describe the economic characteristics of data products (in contrast to information products), highlighting the key attributes that influence the creation and capture of value from data. We apply the framework to compare data products with content- and algorithm-based (e.g., software) information products to illuminate the strategic challenges of building competitive advantage in the data economy. We finish by reviewing feasible business models that address the tension between value creation and appropriation in commercializing data products.

Keywords: Asian Studies; Business and Management; Innovations and Technology (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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