Abstract
Value Chain has been considered as a key model for managing efficiently value creation processes within organizations. However, with the digitization of the end-to-end processes which began to adopt data as a main source of value, traditional value chain models have become outdated. For this, researchers have developed new value chain models, called Data Value Chains, to carry out data driven organizations. Thereafter, new data value chains called Big Data Value chain have emerged with the emergence of Big Data in order to face new data-related challenges such as high volume, velocity, and variety. These Big Data Value Chains describe the data flow within organizations which rely on Big Data to extract valuable insights. It is a set of ordered steps using Big Data Analytics tools and mainly built for going from data generation to knowledge creation. The advances in Big Data and Big Data Value Chain, using clear processes for aggregation and exploitation of data, have given rise to what is called data monetization. Data monetization concept consists of using data from an organization to generate profit. It may be selling the data directly for cash, or relying on that data to create value indirectly. It is important to mention that the concept of monetizing data is not as new as it looks, but with the era of Big Data and Big Data Value Chain it is becoming attractive. The aim of this paper is to provide a comprehensive review of value creation, data value, and Big Data value chains with their different steps. This literature has led us to construct an end-to-end exhaustive BDVC that regroup most of the addressed phases. Furthermore, we present a possible evolution of that generic BDVC to support Big Data Monetization. For this, we discuss different approaches that enable data monetization throughout data value chains. Finally, we highlight the need to adopt specific data monetization models to suit big data specificities.
Highlights
Value creation is the rational goal of any organization
In “The Big Data Value Chain approach” section, we propose and discuss a generic BDVC, able through its various phases to monetize the data intrinsically
We present Linked data value chain and value chain network which are deemed to be good extensions of the initial data value chain concept: Linked Data Value Chain (LDVC) In 2006, the term Linked Data was defined as a set of best practices for exposing, sharing and connecting structured data on the web using Uniform Resource Identifier (URI) [15] and resource description framework (RDF) [16, 17] data model
Summary
Value creation is the rational goal of any organization. In a changing world, in terms of data, it is very difficult to find strategies to sustainably generate new value and improve operations. In this respect, generating value may mean revisiting some deeplyheld conceptions of different processes. Each organization has to ensure an efficient and updated management of value creation processes for both inter-organization and partners. Value chain (VC) is one of the key solutions to such dilemmas. Faroukhi et al J Big Data (2020) 7:3
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