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Data-Driven Business Models: Challenges and Opportunities of Big Data

By Monica Bulger, Greg Taylor, and Ralph Schroeder
Cover of Data-Driven Business Models: Challenges and Opportunities of Big Data

Increasingly, big data is proving to be an essential element of economic growth. An ever-expanding body of evidence points to the crucial role of big data across sectors in informing strategic decisions. Across the private, public, and civil society sectors, big data is becoming an essential component of business operations. Big data is seen as offering the potential to increase productivity and reduce wastage.

This report draws on interviews with 28 business leaders and stakeholder representatives from the UK and US in order to answer the following questions: How is (big) data being used; what is a ‘big data business model’? What are the main obstacles to exploitation of big data in the economy? What can and should be done to mitigate these challenges and ensure that the opportunities provided by big data are realised?

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Publication date:
September 2014

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