The value of data: A survey study on startups and scaleups' data monetisation strategies and capabilities
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School of Business |
Master's thesis
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Date
2023
Department
Major/Subject
Mcode
Degree programme
Information and Service Management (ISM)
Language
en
Pages
77+9
Series
Abstract
The amount of data is rapidly growing and the value of it is starting to be recog-nised. Data monetisation is a rather novel field in academic terms, but the industry has been practicing different forms of it for some time. This study investigates the burgeoning field of data monetisation, focusing especially on startups and scaleups in Finland. Our primary research question explores the most effective data monetisation strategies for these companies. This topic is of interest as many new innovations and business models find viability through these kinds of companies. In order to understand the current situation, we conducted a survey on Finnish startup and scaleup companies. The questions were formatted based on a similar study on established companies by Barbara Wixom in 2019. Through our survey responses we were able to establish that Finnish startups and scaleups are not highly focused on the field and for the time being do not possess a clear competitive advantage compared to more established companies. This is largely due to resource constraints that are usually more prevalent for startups than other companies. However, there is a lot of potential for startup and scaleup companies to beat others in the market as they have a nimbler and more dynamic organisation and less legacy issues. Our study shows that the most popular approach is using data to enhance existing business processes, attributed to its familiarity and ease of implementation. However, we also note a rising trend in wrapping data into new products and features. Selling data was not shown to change in prevalence from the study conducted by Wixom in 2019. In general, this study can be used as a managerial guide to implementing data monetisation or as a basis for understanding the current models and status of the field.Description
Thesis advisor
Rossi, MattiKeywords
data, data monetisation, startup, scaleup, datan kaupallistaminen, kasvuyritys