Book Image

The New Oil: Using Innovative Business Models to turn Data Into Profit

By : Arent van 't Spijker
Book Image

The New Oil: Using Innovative Business Models to turn Data Into Profit

By: Arent van 't Spijker

Overview of this book

Data, at present, has become one of the most valuable resources, driving our economy by impacting every single industry in today’s global market. This book is all about how data plays a dominant role in making crucial business decisions. The book begins with an introduction to the variation of business trends through the course of time and the factors involved. You will study the three major drivers of change, including the connected economy, the internet of things, and the co-creation. Once you know how and why the market shifts, you will understand the data’s significance and how it became a key asset for the majority of firms to facilitate accurate business decisions. In the concluding chapters, you will learn how companies achieve data-driven strategy implementation through its four crucial characteristics. By the end of this book, you will have thoroughly explored the potential of big data and developed a possible approach to monetize it.
Table of Contents (4 chapters)

12 - Pattern 5:
Value Net Creation

Why sharing the same customer is a good reason to share data

The Value Chain Integration business model shows how data monetization is not just about selling data. It leverages the trend of the Connected Economy and uses data to bring organizations together around a common concept: the value chain. But even when companies are not in the same value chain, they still can find common ground on which to share data and achieve benefits. This is what the business model pattern ‘Value Net Creation’ is about. The predisposition for monetizing data in this way is the fact that companies are in the same value network. Or, to put simply: They share the same final customer. Exchanging data about this customer or his behavior can bring great benefits to all involved, including the customer, without harming each organization’s competitive position.

In 1999, fifteen years after the first mention of the value chain by Michael Porter, Cinzia...