Data Asset Monetization as a Modeling Concern
Although data as a new sellable good has been under discussion for years, selling and monetizing data assets has not been given proper thought in IS modeling and development. This aspect is of relevance given recent concerns about data privacy and security and the simultaneous explosion in the use of data for marketing and service-development purposes. We show how this aspect can be considered in IS development through constraints (organization type, business type, data characteristics, privacy, and security) that companies should address to move from the internal use of data and supporting existing customers to generating new business through selling data. These concerns need to be linked to data production processes within the organization and analyzed against regulations (e.g. GDPR and new European DMA and DSA acts). Furthermore, through the DMA and DSA acts EU moves towards a fair data economy, which will be a key concern about data assets in the near future.
We also demonstrate how business models can be used to analyze what parts of the data assets can be monetized and what kind of relationships and partnerships have to be formed.
Lecture at NEMO2023
Date/Time: Tuesday, July 25, 2023 at 10:00