The Impact of the Data Age on the Business Value of Innovative Internet Industries

Abstract

In the contemporary landscape dominated by data-driven internet technologies, big data has emerged as a crucial production factor, exerting a profound impact on both industry value and corporate transformation. The purpose of this research is to explore how big data reshapes industry value and propels the development of a socially oriented value paradigm. It was found that the sources of value have gradually shifted from being product-centric to being user-data-centric. This shift has given rise to learning loops that are centered around user data. As a result, full-chain data integration has been enabled, which in turn has led to several significant benefits. For instance, lead times have been compressed, inventory levels have been reduced by up to 20%, and personalisation has been enhanced. These improvements have collectively contributed to an increase in conversion rates by over 15%. In addition to these changes, new monetisation models have also emerged. These models leverage data from multiple sources to create new revenue streams. Overall, this research aims to contribute to the ongoing discussions on how to leverage big data for sustainable growth. It provides actionable recommendations for both firms and policymakers, highlighting the potential of big data while also acknowledging the need to address the associated challenges.