With enhanced connectivity of products and accelerated digitalization of services, the availability of data within firms has grown substantially. Academia and leading domain experts have commented that “Data is the new oil”. However, many firms struggle to create new offerings based on available data or generate revenues from existing data-intensive services. Besides, missing knowledge in data processing and analytics, firms face the challenge to define clear value propositions or even entire business models.
The expert group will foster the discussion and knowledge exchange on successful commercialization of data-intensive services. The topic will be approached from a management perspective with a focus on business model design and innovation. We will discuss tools and methodologies to define value propositions, suitable revenue and pricing models. Furthermore, we would like to identify critical success factors for data-driven business models. Besides discussions on business models, we would also like to include topics like “make or buy ” of relevant ICT-components and platform approaches into the expert group meetings. However, the detailed topics will be aligned to the needs and interests of the participants.