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Profiting from data products

In: Research Handbook on Digital Strategy

Author

Listed:
  • Llewellyn D.W. Thomas
  • Aija Leiponen
  • Pantelis Koutroumpis

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.

Suggested Citation

  • Llewellyn D.W. Thomas & Aija Leiponen & Pantelis Koutroumpis, 2023. "Profiting from data products," Chapters, in: Carmelo Cennamo & Giovanni B. Dagnino & Feng Zhu (ed.), Research Handbook on Digital Strategy, chapter 14, pages 255-272, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20348_14
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    Cited by:

    1. Blind, Knut & Kenney, Martin & Leiponen, Aija & Simcoe, Timothy, 2023. "Standards and innovation: A review and introduction to the special issue," Research Policy, Elsevier, vol. 52(8).
    2. Ritala, Paavo & Keränen, Joona & Fishburn, Jessica & Ruokonen, Mika, 2024. "Selling and monetizing data in B2B markets: Four data-driven value propositions," Technovation, Elsevier, vol. 130(C).

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