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Appendix 4: Emerging Global Frameworks related to Data Business In the data economy, the proliferation of big data, analytics and AI has led to the creation of information intensive services where information interactions exert the greatest effect on value creation. Thus, a new category of business, ‘Data Business’, may be envisaged that collects / manages / or otherwise manages data, and meets certain threshold criteria.
i. One study59 developed a nine-factor framework for data-based value creation in information-intensive services. The factors include (1) data source, (2) data collection, (3) data, (4) data analysis, (5) information on the data source, (6) information delivery, (7) customer (information user), (8) value in information use, and (9) provider network. Globally, such a concept of defining a new category of ‘Data Business’ is only emerging. Here are a few examples of related global taxonomies. 1. Bureau of Economic Analysis (BEA), USA definition of Digital Economy60 – BEA in a 2018 working paper includes the following categories under Digital Economy:
i. Digital-enabling infrastructure needed for a computer network to exist and operate – computer hardware, software, telecommunications equipment and services, structures like data centres, IoT, and support services
ii. e-Commerce – digital transactions that take place using that system – Business-to-business (B2B) e-commerce, e-commerce, Peer-to-peer (P2P) e-commerce
Business-to-consumer
(B2C)
iii. Digital media – the content that digital economy users create and access 2. OECD classification of data-enabled services61 – In a 2018 paper on recording and measuring data, OECD categorizes data-enabled services as follows:
i. Providing services for free or at very low prices to gather data of users which are subsequently used to detect behavioural patterns to provide other producers with targeted advertising services (like Google Ads, Facebook, etc.), or to offer other services (e.g. using information from payment systems etc.)
ii. Using data generated as part of the primary production process, to improve the efficiency of the internal operations and/or to detect behavioural pattern to
59 Chiehyeon Lim et al., “From data to value: A nine-factor framework for data-based value creation in information-intensive services”, International Journal of Information Management, Volume 39, April 2018, Pages 121-135 60https://www.bea.gov/sites/default/files/papers/defining-and-measuring-the-digital-economy.pdf 61http://www.oecd.org/officialdocuments/publicdisplaydocumentpdf/?cote=SDD/CSSP/WPNA(2018)5&docLa nguage=En
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