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Business Strategies for Data Monetization: Deriving Insights from Practice

Julius Baecker1, 2, Martin Engert1, 2, Matthias Pfaff1, 2, and Helmut Krcmar2 1fortiss - Forschungsinstitut des Freistaats Bayern für softwareintensive Systeme und Services, Munich, Germany, 2Technical University of Munich, Chair for Information Systems,

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.

Schlüsselwörter: Data monetization, data-driven business models, big data, datadriven decision making
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