Authors: Patrick Cato, Philipp Gölzer and Walter Demmelhuber
This paper identifies and describes five types of value creation enabled by Big Data technologies. This was determined after performing a qualitative content analysis of publications from industry and academics. The five types are: (1) Optimization of Operations, (2) Enrichment of Operations, (3) Enhancement of Customer Experience, (4) Innovation of Business Model, (5) Creation of Knowledge and Insights. This differentiated perspective of Big Data-based value creation provides practitioners a better basis for decision-making where to focus investments in Big Data technologies. Furthermore, this paper contributes to the academic community and provides the impetus for the comprehensive analysis of Big Data-based value creation.
Keywords: Big Data technologies, Data-driven Business Model, Value Creation