New business models and the value of open data: definitions, challenges and opportunities

Abstract

This paper offers an overview of the emerging open data landscape and its value creation in the economy and society. It analyses extant literature in three research domains: open data, business models, and value theory in the social sciences. Based on the review, it discusses challenges, potential trade-offs and policy implications of open data in business and social applications. In doing so, the paper builds a conceptual base that can guide future work on the area