Defining data-driven business models in the context of sustainability

Abstract

Purpose Data have been identified as a potential next source of value creation and competitive advantage for companies, giving rise to data-driven business models that rely on data as a key resource. Despite the central role of data in today's business, there is conceptual ambiguity regarding what constitutes a data-driven business model, particularly in the context of sustainability. Design/methodology/approach Drawing on a single case study of an emerging electric commercial vehicle ecosystem, the study identifies data-based business model innovation opportunities. Findings The findings highlight how data-driven business model innovation extends beyond data monetization and efficiency gains within focal firms, and increasingly depend on data sharing and collaboration at the ecosystem level. Originality/value Based on the empirical findings of our research, data can have an impact on business which goes beyond merely economic value. The potential impact of data on a business model can also enable value creation in the environmental and social dimensions. There is a need to incorporate social business model innovation into the expanded value dimensions of economic, environmental, and social factors.