Data monetization capability: from the systematic literature review to the proposition of a multidimensional model

Maia, Cláudia Rodrigues; Maçada, Antônio Carlos Gastaud; Lunardi, Guilherme Lerch; Sengik, Aline Rossales

doi:10.5902/1983465986416

Cláudia Rodrigues Maia

Definition of research problem

Development of hypotheses or research questions (empirical studies)

Development of theoretical propositions (theoretical work)

Theoretical foundation

Literature review

Definition of methodological procedures

Data collection

Analysis and interpretation of data

Critical revision of the manuscript

Manuscript writing

1 – Cláudia Rodrigues Maia Institution: Universidade Federal do Rio Grande do Sul – Porto Alegre, Rio Grande do Sul, Brazil Ph.D. in Business Administration at the Universidade Federal do Rio Grande do Sul – UFRGS, Brazil. Master in Business Administration at the Postgraduate Program in Business Administration – FURG, Brazil. Her research interests include Information Technology, Green IT, Social Commerce, Mobile Commerce, Online Tourism, Trust, Consumer Behavior; Social Data, Data Monetization

Universidade Federal do Rio Grande do Sul, Porto Alegre, RS, Brazil

https://orcid.org/0000-0002-7274-0118

Antônio Carlos Gastaud Maçada

Definition of research problem

Development of hypotheses or research questions (empirical studies)

Development of theoretical propositions (theoretical work)

Analysis and interpretation of data

Critical revision of the manuscript

2 – Antônio Carlos Gastaud Maçada Institution: Universidade Federal do Rio Grande do Sul – Porto Alegre, Rio Grande do Sul, Brazil Full Professor of Management Information Systems at the Universidade Federal do Rio Grande do Sul (UFRGS), School of Management, Brazil where he received his Ph.D. in Management Information Systems. His research interests include IT investments, IT value, IT adoption and post-adoption, information quality, IT and information/data governance, data monetization, digital capabilities and IS behavior. He has published articles in peer-reviewed journals including the Computer in Human Behavior, Impact Assessment Review, Behaviour & Information Technology, Supply Chain Management: an international journal, and International Journal of Accounting Information Systems

Universidade Federal do Rio Grande do Sul, Porto Alegre, RS, Brazil

https://orcid.org/0000-0002-8849-0117

Guilherme Lerch Lunardi

Definition of research problem

Development of hypotheses or research questions (empirical studies)

Critical revision of the manuscript

3 – Guilherme Lerch Lunardi Institution: Universidade Federal do Rio Grande – Rio Grande, Rio Grande do Sul, Brazil Ph.D. in Business Administration at the Universidade Federal do Rio Grande do Sul - UFRGS, Brazil. Postdoctoral degree at the Ecole des Hautes Etudes Commerciales in Montreal/Canada (HEC-Montreal). He is an Associate Professor at the Institute of Economic, Administrative, and Accounting Sciences, Universidade Federal do Rio Grande (FURG). His research interests include the Impact of Information Technology (IT), IT governance, Green IT, e-commerce, and Healthcare Information Technologies

Universidade Federal do Rio Grande, Rio Grande, RS, Brazil

https://orcid.org/0000-0003-3250-2796

Aline Rossales Sengik

Definition of research problem

Development of hypotheses or research questions (empirical studies)

Development of theoretical propositions (theoretical work)

Critical revision of the manuscript

4 – Aline Rossales Sengik Institution: Universidade Federal do Rio Grande do Sul – Porto Alegre, Rio Grande do Sul, Brazil PhD student in Administration at the Universidade Federal do Rio Grande do Sul - UFRGS. Master in Administration at the Universidade Federal do Rio Grande (FURG). She is an administrative technician at the Instituto Federal Sul-Rio-Grandense (IFSul), in the position of Information Technology Analyst. Her research interests include IT governance, Healthcare Information Technologies and Analytics governance

Universidade Federal do Rio Grande do Sul, Porto Alegre, RS, Brazil

https://orcid.org/0000-0002-0560-356X

Conflict of Interest: The authors have stated that there is no conflict of interest.

Edited by: Jordana Marques Kneipp

Construct	Definition	References
Information Management Capability	Set of company skills that connect people and information architecture, infrastructure, access, and extension to enable changes in the organization in response to the imposition of the competitive environment.	Grover et al., 2018Grover, V., Chiang, R. H., Liang, T. P., & Zhang, D. (2018). Creating strategic business value from big data analytics: A research framework. Journal of Management Information Systems, 35(2), 388-423. Kettinger et al. 2021Kettinger, W. J., Ryoo, S. Y., & Marchand, D. A. (2021). We're engaged! Following the path to a successful information management capability. The Journal of Strategic Information Systems, 30(3), 101681. Maçada et al., 2020Maçada, A. C. G., Brinkhues, R. A., & Freitas, J. C. D. S. (2020). "The influence of Information Management Capability on Companies' Sustainable Competitive Advantage: A Multiple-Case Study of Brazilian Market-Leading Companies," Revista Brasileira de Gestão de Negócios, 22, 876-899. Mithas et al. 2011Mithas, S., Ramasubbu, N., & Sambamurthy, V. (2011). How information management capability influences firm performance. MIS quarterly, 237-256.
Monetization Capability	Ability to create value for organizations, capable of generating some kind of benefit through the development of skills that enable improvements in business performance such as: the increase in revenue, the reduction of costs, the improvement of internal and external processes, the improvement in the relationship with customers and stakeholders, and the customization and development of new products and services.	Elaborated by the authors

Base

String + Filtros

Scopus

( TITLE-ABS-KEY ( “data monetization” ) OR TITLE-ABS-KEY ( “data value” ) OR TITLE-ABS-KEY ( “big data analytic* capabilit*” ) OR TITLE-ABS-KEY ( “Dynamic Capabilit*” ) OR TITLE-ABS-KEY ( “Information Management capabilit*” ) OR TITLE-ABS-KEY ( “data management capabilit*” ) AND TITLE-ABS-KEY ( “capabilit*” ) OR TITLE-ABS-KEY ( “big data analytic*” ) OR TITLE-ABS-KEY ( “insight” ) OR TITLE-ABS-KEY ( “firm performance” ) OR TITLE-ABS-KEY ( “analytic*” ) OR TITLE-ABS-KEY ( “monetizing data” ) AND SRCTITLE ( “European Journal Of Information Systems” ) OR SRCTITLE ( “Information Systems Journal” ) OR SRCTITLE ( “Information Systems Research” ) OR SRCTITLE ( “Journal of Information Technology” ) OR SRCTITLE ( “Journal of Management Information Systems” ) OR SRCTITLE ( “Journal Of Strategic Information Systems” ) OR SRCTITLE ( “Journal of the Association for Information Systems” ) OR SRCTITLE ( “MIS Quarterly Management Information Systems” ) OR SRCTITLE ( “Information and Management” ) OR SRCTITLE ( “Decision Support Systems” ) OR SRCTITLE ( “Decision Science” ) OR SRCTITLE ( “Mis Quarterly executive” ) OR SRCTITLE ( “International Journal of Information Management” ) OR SRCTITLE ( “Communications of the Association for Information Systems” ) OR SRCTITLE ( “Journal of Big Data” ) OR SRCTITLE ( “Global Journal of Flexible Systems Management” ) ) AND ( LIMIT-TO ( DOCTYPE,”ar” ) OR LIMIT-TO ( DOCTYPE,”re” ) )

Year	Definitions	Authors
2013	It occurs when the data intangible value is converted into real value, usually with the sale or other tangible benefits. Data monetization is an act of converting data into a valuable product or service or information that will result in a monetary or non-monetary benefit	Najjar and Kettinger
2020	Process of transforming an input (representations of raw data) into a valuable output, similar to what is done in crude oil refining	Hanafizadeh and Harati Nik
	Using data from an organization to generate profit through the sale directly or indirectly from the creation of value	Faroukhi et al.
	Monetization data addresses data as an intangible asset that provides opportunities to create and capture value through new ways to explore collected and organized data	Parvinen et al.

Authors/Elements related to Monetization definitions	Competitiveness	Data Sale	Data Discovery	Data Processing	Value creation	Revenue generation	Internal and external data	Generating insights	Data direct and indirect conversion	Monetary/non-monetary benefit	Business intelligence & Analytics
Najjar and Kettinger (2013)Najjar, M. S., & Kettinger, W. J. (2013). Data Monetization: Lessons from a Retailer's Journey. MIS Quarterly Executive, 12(4).		x	x		x	x				x
Mohasseb (2014)			x	x		x				x
Prakash (2014)				x		x	x	x
Shukla and Dubey (2014)			x	x	x			x
Liu and Chen (2015)Liu, C.-H., & Chen, C.-L. (2015). A review of data monetization: Strategic use of Big Data. The fifteenth international conference on electronic business (ICEB 2015), 7.		x			x	X				x
Thenuan and Raina (2016)					x	x					x
Wixom (2014)	x		x	x	x					x
Wixom and Ross (2017)Wixom, B. H., & Ross, J. W. (2017). How to monetize your data. MIT Sloan Management Review, 58(3), n/a-13. Available at: https://sloanreview.mit.edu/article/how-tomonetize-your-data/. https://sloanreview.mit.edu/article/how-...	x		x	x	x					x
Teece and Linden (2017)					x
Visconti et al. (2017)Visconti, R. M., Larocca, A., & Marconi, M. (2017). Big data-driven value chains and digital platforms: From value co-creation to monetization. Big Data Analytics: Tools and Technology for Effective Planning, 355-371.					x	x					x
Fred (2017)			x			x
Gartner (2015; 2019)										x
Alfaro et al. (2019)Alfaro, E., Bressan, M., Girardin, F., Murillo, J., Someh, I., & Wixom, B. H. (2019). BBVA's Data Monetization Journey. MIS Quarterly Executive, 18(2).		x							X	x
Faroukhi et al. (2020)Faroukhi, A. Z., El Alaoui, I., Gahi, Y., & Amine, A. (2020). Big data monetization throughout Big Data Value Chain: A comprehensive review. Journal of Big Data, 7(1), 3.		x			x				x
Hanafizadeh and Harati Nik (2020)Hanafizadeh, P., & Harati Nik, M. (2020). Configuration of Data Monetization: A Review of Literature with Thematic Analysis. Global Journal of Flexible Systems Management, 21(1), 17-34.	x	x			x			x	x
Parvinen et al. (2020)Parvinen, P. Pöyry, E. Gustafsson, R. Laitila, M. Rossi, M. (2020). Advancing data monetization and the creation of data-based business models. Communications of the Association for Information Systems, 47(1), 2.		x		x	x
Hanafizadeh et al.(2021)Hanafizadeh, P., Barkhordari Firouzabadi, M., & Vu, K. M. (2021). Insight monetization intermediary platform using recommender systems. Electronic Markets, 31(2), 269-293.			x	x	x			x	x	x	x

Definition	Authors
Data Enrichment – Ability to create value from various data sources – internal/external – data processing, transformation or cleaning for economic benefit	Parvinen et al. (2020)Parvinen, P. Pöyry, E. Gustafsson, R. Laitila, M. Rossi, M. (2020). Advancing data monetization and the creation of data-based business models. Communications of the Association for Information Systems, 47(1), 2., Baecker et al. (2020)Baecker, J., Engert, M., Pfaff, M., & Krcmar, H. (2020). Business Strategies for Data Monetization: Deriving Insights from Practice. In Wirtschaftsinformatik (Zentrale Tracks) (pp. ???-???)., Laguir et al. (2022)Laguir, I., Gupta, S., Bose, I., Stekelorum, R., & Laguir, L. (2022). Analytics capabilities and organizational competitiveness: Unveiling the impact of management control systems and environmental uncertainty. Decision Support Systems, 113744.
Analytical – Ability to analyze and interpret the data applied to big data to extract information that generates value to the company	Najjar and Kettinger (2013)Najjar, M. S., & Kettinger, W. J. (2013). Data Monetization: Lessons from a Retailer's Journey. MIS Quarterly Executive, 12(4)., Grover et al. (2018)Grover, V., Chiang, R. H., Liang, T. P., & Zhang, D. (2018). Creating strategic business value from big data analytics: A research framework. Journal of Management Information Systems, 35(2), 388-423., Ghasemaghaei et al. (2018)Ghasemaghaei, M., Ebrahimi, S., & Hassanein, K. (2018). Data analytics competency for improving firm decision making performance. The Journal of Strategic Information Systems, 27(1), 101-113., Mikalef et al. (2017), Laguir et al. (2022)Laguir, I., Gupta, S., Bose, I., Stekelorum, R., & Laguir, L. (2022). Analytics capabilities and organizational competitiveness: Unveiling the impact of management control systems and environmental uncertainty. Decision Support Systems, 113744.
Technical – Know-how necessary to use new technologies for the collection, storage, recovery and analysis of the various types of data	Najjar and Kettinger (2013)Najjar, M. S., & Kettinger, W. J. (2013). Data Monetization: Lessons from a Retailer's Journey. MIS Quarterly Executive, 12(4)., Ghasemaghaei et al. (2018)Ghasemaghaei, M., Ebrahimi, S., & Hassanein, K. (2018). Data analytics competency for improving firm decision making performance. The Journal of Strategic Information Systems, 27(1), 101-113., Mikalef et al. (2017), Gupta and George (2016)Gupta, M., & George, J. F. (2016). Toward the development of a big data analytics capability. Information & Management, 53(8), 1049-1064.
Data Governance – definition of structures, procedures and functions to enable the necessary data flow, taking into account the aspects of data security, privacy, ethics and quality	Mikalef et al. (2020)Mikalef, P., Pappas, I., Krogstie, J., & Pavlou, P. A. (Eds.). (2020). Big data and business analytics: A research agenda for realizing business value. Norway: Elsevier., Parvinen et al. (2020)Parvinen, P. Pöyry, E. Gustafsson, R. Laitila, M. Rossi, M. (2020). Advancing data monetization and the creation of data-based business models. Communications of the Association for Information Systems, 47(1), 2.

Definition

Authors

Insights - identified as an important dynamic capability that can help organizations to adjust their activities and resources when confronted with changing markets

Jiang and Gallupe (2015)Jiang, J., & Gallupe, R. B. (2015, August). Environmental scanning and business insight capability: the role of business analytics and knowledge integration. In Proceedings of Americas Conference on Information Systems, Puerto Rico, August (pp. ??-??). Schulte and Hovorka (2017)Schulte, C., & Hovorka, D. (2017). Heuristics for Gaining Project Insights. In: ACIS 2017 Proceedings. 100.

Business Agility - defined as the ability to respond quickly to changes, using the available data, and being strategically agile in implementing actions for performance improvement

Kale et al. (2019)Kale, E., Aknar, A., & Basar, Ö. (2019). Absorptive capability and firm performance: The mediating role of Business Agility. International Journal of Hospitality Management, 78, 276-283. Tallon and Pinsonneault (2011)Tallon, P. P., & Pinsonneault, A. (2011). Competing perspectives on the link between strategic information technology alignment and organizational agility: insights from a mediation model. MIS Quarterly, 463-486. Kumkale (2016)Kumkale, I. (2016). Organization's tool for creating competitive advantage: Business Agility. Balkan and Near Eastern Journal of Social Sciences, 2(3), 118-124. Sherehiy et al. (2007)Sherehiy, B., Karwowski, W., & Layer, J. K. (2007). A review of enterprise agility: Concepts, frameworks, and attributes. International Journal of Industrial Ergonomics, 37(5), 445-460. Queiroz et al. (2018)Queiroz, M., Tallon, P. P., Sharma, R., & Coltman, T. (2018). The role of IT application orchestration capability in improving agility and performance. The Journal of Strategic Information Systems, 27(1), 4-21.

[1] Conflict of Interest: The authors have stated that there is no conflict of interest.

Brasil

Brasil

Data monetization capability: from the systematic literature review to the proposition of a multidimensional model

Capacidade de monetização de dados: da revisão sistemática da literatura à proposição de um modelo multidimensional

Abstract

Purpose

Design/Methodology/Approach

Findings

Practical Implications

Originality/Value