Data Innovation Explorer: Design of a Data-Driven Business Model Tool

Abstract

We are now living in the data economy with data as the central fuel for operating data-driven business models. Especially incumbent companies are constantly challenged by rapid technological change and emerging business models that utilize data for value creation. Consequently, every company must rethink and, possibly, renew its business model over time to remain successful. Various tools have been proposed by practice and academia in order to enable and facilitate business model innovation. Although IT tools for supporting business model innovation proved to be meaningful, IT tools for data-driven business model innovation are relatively scarce. Hence, we aim for the design of an IT tool to enable and facilitate data-driven business model innovation. To reach the research objective, we employ a design science research approach accompanied by an experimental evaluation design. In this research, we propose four design features for IT tools supporting data-driven business model innovation.