Abstract
The purpose of this paper is to explore the current state of data commercialisation and external distribution in the Finnish real estate and construction (REC) sector. We focus on how companies could more effectively benefit from digitalisation, with more holistic utilisation of data from smart buildings. We assess the current state of data utilisation and distribution using a start-up company analysis and industry workshops. According to our research, the data from smart buildings is gathered on a large scale but very seldom distributed outside company borders. The reason for this almost non-existent external data distribution is the lack of value of the external data. As a solution, we propose the Internet of Buildings framework. The framework is based on a platform ecosystem model that is complemented with data commercialisation roles. It takes into account the current data-related opportunities and challenges in the sector. Within the framework, we suggest stakeholder roles and modes of interaction that promote value creation from smart building data. The framework can be used as a starting point for developing data commercialisation and external data distribution in the sector.
Highlights
The ongoing digitalisation of today’s society is expected to cause disruption and value shifts in several industries [1]
The results of the Slush analysis, which was the first phase of the empirical part of the study, The results of the analysis, which was the Does first phase of the empirical part of the study, provided evidence forSlush the first research question: the business model of gathering and provided evidence for the first research question: Does the business model of gathering and externally externally distributing data from smart buildings already exist in new digital business openings in distributing data from smart buildings already exist in new digital business openings in the real estate and construction (REC) sector?
The findings of the study introduce the Internet of Buildings framework, which is a tentative model for external data distribution and data commercialisation in the REC sector
Summary
The ongoing digitalisation of today’s society is expected to cause disruption and value shifts in several industries [1]. Data analysis has been named as one of the four major technology trends of this decade [4]. Refers to “a set of technologies and processes that use data to understand and analyze business performance” [5]. It has been successfully used in many sectors to help enterprises better understand their businesses and markets and to make timely business decisions. Davenport and Harris [5] state that the utilisation of data analytics in strategic decision-making will likely lead to better business performance and competitive advantage. Big players in the information technology (IT) sector such as Google, Amazon and Facebook have developed themselves into multi-billion-euro enterprises, with business ideas, including data gathering and analysis, as major components
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