BBVA’s Data Monetization Journey

Alfaro, Elena; Bressan, Marco; Girardin, Fabien; Murillo, Juan Manuel; Someh, Ida Asadi; Wixom, Barbara H.

doi:10.17705/2msqe.00011

Cited by 25 publications

(22 citation statements)

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“…Researchers have exposed in [91] Data Monetization Journey of BBVA global financial group in various domains. It concerns the direct generation of benefits by selling information solutions to external customers, the improvement of core business operations that can provide large benefic value, the application of analytical processing to guide products and the economic impact benefit of data monetization-based projects.…”

Section: Pathways For Big Data Monetization Business Modelsmentioning

confidence: 99%

Big data monetization throughout Big Data Value Chain: a comprehensive review

et al. 2020

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Value creation is the rational goal of any organization. However, in a changing world, in terms of data, it is very difficult to find strategies to sustainably generate new value and improve operations. In this respect, generating value may mean revisiting some deeplyheld conceptions of different processes. For this, each organization has to ensure an efficient and updated management of value creation processes for both inter-organization and partners. Value chain (VC) is one of the key solutions to such dilemmas.

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Section: Pathways For Big Data Monetization Business Modelsmentioning

confidence: 99%

Big data monetization throughout Big Data Value Chain: a comprehensive review

et al. 2020

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“…Therefore, the use and sharing of data are key aspects for generating value propositions [9,24]. Although the emergence and utilization of data ecosystems is still in its infancy, organizations actively engage in the formation of ecosystems to improve their market positioning [25,26]. A central constituent of value proposition in this regard is based on data [27].…”

Section: Ecosystem Conceptmentioning

confidence: 99%

Towards a Taxonomy of Ecosystem Data Governance

Lis¹,

Otto

2021

Proceedings of the Annual Hawaii International Conference on System Sciences

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Despite being in competitive relations, organizations increasingly engage in data-centric collaborations to utilize access and provision to distributed data sources. Over time, these relations have evolved from dyadic relationships to the emergence of complex ecosystems. These ecosystems are characterized by multiple autonomous organizations that engage in data sharing to leverage data-driven innovation. For value propositions based on data to materialize, the configuration of data governance can provide fundamental control mechanisms that influence the design, dynamics and success of the collaboration. In the context of ecosystems, data governance is considered an under-researched topic. This paper investigates both concepts and identifies the main conceptual characteristics of ecosystem data governance. We develop a taxonomy of ecosystem data governance that comprises eight dimensions and twenty four characteristics to improve the conceptual understanding of data governance in data ecosystems.

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“…In addition, they discuss in detail how the company benefits from this strategy. Similarly, Alfaro et al present insights from BBVA, a global financial group, pursuing three different data monetization strategies [13]. Further empirical studies with a focus on the usage of data in enterprises for economic benefit encompass different domains such as manufacturing [14][15][16], online platforms [17][18][19][20][21], aviation [22], start-ups [12], finance [13,23], open data [24][25][26][27][28] or further (and mixed) domains and industries [1,11,[29][30][31][32][33][34][35][36][37][38].…”

Section: Introductionmentioning

confidence: 99%

Business Strategies for Data Monetization: Deriving Insights from Practice

Baecker¹,

Engert²,

Pfaff³

et al. 2020

WI2020 Zentrale Tracks

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Although increases in available data have inspired companies' interest in creating and extracting value from it, many lack the insight and guidance to assess the potential data offer. To address this issue, we conduct a systematic literature review to create a universe of 102 real-world cases from diverse industries with regard to the use of data. Based on an analysis of these cases, this paper provides a set of 12 generic strategies for monetizing data, ranging from sole asset sale to strategically opening data and guaranteeing control. This study supports business practice by aggregating the wide range of established approaches of data monetization from practice for operational purposes. It advances theoretical understanding of value capturing from data and suggests important avenues for future work in this emerging field of research.

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BBVA’s Data Monetization Journey

Cited by 25 publications

References 0 publications

Big data monetization throughout Big Data Value Chain: a comprehensive review

Big data monetization throughout Big Data Value Chain: a comprehensive review

Towards a Taxonomy of Ecosystem Data Governance

Business Strategies for Data Monetization: Deriving Insights from Practice

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