An Adaptable Big Data Value Chain Framework for End-to-End Big Data Monetization

Abstract

Today, almost all active organizations manage a large amount of data from their business operations with partners, customers, and even competitors. They rely on Data Value Chain (DVC) models to handle data processes and extract hidden values to obtain reliable insights. With the advent of Big Data, operations have become increasingly more data-driven, facing new challenges related to volume, variety, and velocity, and giving birth to another type of value chain called Big Data Value Chain (BDVC). Organizations have become increasingly interested in this kind of value chain to extract confined knowledge and monetize their data assets efficiently. However, few contributions to this field have addressed the BDVC in a synoptic way by considering Big Data monetization. This paper aims to provide an exhaustive and expanded BDVC framework. This end-to-end framework allows us to handle Big Data monetization to make organizations’ processes entirely data-driven, support decision-making, and facilitate value co-creation. For this, we present a comprehensive review of existing BDVC models relying on some definitions and theoretical foundations of data monetization. Next, we expose research carried out on data monetization strategies and business models. Then, we offer a global and generic BDVC framework that supports most of the required phases to achieve data valorization. Furthermore, we present both a reduced and full monetization model to support many co-creation contexts along the BDVC.