Information about the consumer and their characteristics has nowadays become a service or market commodity thanks to which new economic processes, based on the use of advanced data processing technologies, are created. The main objective of the paper is to identify the imbalance between the right to privacy and the business objectives of entities creating new Data-Driven Business Models (DDBMs) of consumers (EU citizens). This system of inhibitor ranking represents the frequency and severity of inhibitor, as perceived by 41 strategy and data-oriented elite interviewees. Within the DDBM-Innovation Blueprint inhibitors are colour-coded and ranked from severe (red) to minor (green). Furthermore, an existing business can identify, within its own organisation, the most common inhibitors to constructing and implementing an effective DDBM and plan to mitigate these accordingly.
To follow a step-by-step process to construct its own DDBM centred around the business’ own desired outcomes, organisation dynamics, resources, skills and the business sector within which it sits. By utilising the blueprint an existing business is able
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There areĪ series of implications that may be particularly helpful to companies already leveraging ‘big data’ for their businesses or planning to do so. In this paper the authors present an integrated framework that could help stimulate an organisation to become data-driven by enabling it to construct its own Data-Driven Business Model (DDBM) in coordination with the six fundamental questions for a data-driven business.
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