Book contents
- Digital Innovation Strategy
- Digital Innovation Strategy
- Copyright page
- Contents
- Figures
- Tables
- Preface
- Part I Introduction
- Part II Information Products and Sources
- 4 Production of Information Goods
- 5 Pricing of Information
- 6 Consumption of Information
- 7 Building and Commercializing Data Assets
- 8 Business Model Design for Information Goods
- Part III Networks
- Part IV Organizing Digital Innovations
- Part V Gaining Ecosystem Momentum
- Index
- References
7 - Building and Commercializing Data Assets
from Part II - Information Products and Sources
Published online by Cambridge University Press: 21 December 2023
Book contents
- Digital Innovation Strategy
- Digital Innovation Strategy
- Copyright page
- Contents
- Figures
- Tables
- Preface
- Part I Introduction
- Part II Information Products and Sources
- 4 Production of Information Goods
- 5 Pricing of Information
- 6 Consumption of Information
- 7 Building and Commercializing Data Assets
- 8 Business Model Design for Information Goods
- Part III Networks
- Part IV Organizing Digital Innovations
- Part V Gaining Ecosystem Momentum
- Index
- References
Summary
Having examined the production, consumption, and valuation of information and data, we can start to design business models for information goods. We examine the fundamental characteristics of information and data goods that we need to consider. It is critical for a digital innovator to design mechanisms that allow users to discover their valuation and preferences, and that allow the innovator to discover users’ willingness to pay. Ideally, such mechanisms account for cognitive tendencies to prefer intuitive, familiar, simple, and quick solutions to our data and information needs.
- Type
- Chapter
- Information
- Digital Innovation Strategy , pp. 88 - 101Publisher: Cambridge University PressPrint publication year: 2023
References
Further Reading
Koutroumpis, Pantelis, Leiponen, Aija, and Thomas, Llewellyn D.W. (2020). Markets for data. Industrial and Corporate Change 29(3): 645–660.CrossRefGoogle Scholar
Parmar, R., Leiponen, A., and Thomas, L. D. W. (2020). Building an organizational digital twin. Business Horizons 63(6): 725–736.CrossRefGoogle Scholar
Thomas, L.D.W., Leiponen, A., and Koutroumpis, P. (2023). Profiting from Data: Business Models for Data Products. Chapter 14 in Cennamo, C, Dagnino, G. B. and Zhu, F: Elgar Handbook of Research on Digital Strategy. Cheltenham: Edward Elgar.Google Scholar
Wessel, L., Baiyere, A., Ologeanu-Taddei, R., and Cha, J., and Blegind Jensen, T. (2021). Unpacking the difference between digital transformation and IT-enabled organizational transformation. Journal of the Association for Information Systems 22(1): article 6.CrossRefGoogle Scholar