Big Data-Driven Value Chains and Digital Platforms: From Value Co-Creation to Monetization

Abstract

The flow of big data-driven information across the web, known as Internet traffic, is growing in volume, velocity, variety, veracity and value. Scalable data systems connected through the web or other IT platforms as mobile-friendly apps produce a network where information and experiences are shared in real time as never before. Digital value chains are based on sequential steps where big data are captured, stored, processed, and shared. Monetization is the last step, which transforms added value into cash.Big data are present at any stage of the value chain, so network theory is relevant for all steps of its upgrading. Value co-creation is an under-investigated topic, especially considering the hidden potentials of big data, such as networking attitudes of the users that generate data itself, and thus useful for predictive analytics within collaborative communities. Big data-driven business models revolutionize planning with hidden information and extract value from data that are considered a worthy asset. The value of data grows exponentially when it is connected and combined with other heterogeneous sources. This shows the importance of data fusion and big data integration (interoperability).This study proposes a new research avenue with an interdisciplinary approach to big data monetization, generating a shared added value that can boost their exploitation.