Skip to Main Content
Data Science Strategy For Dummies
book

Data Science Strategy For Dummies

by Ulrika Jägare
July 2019
Beginner content levelBeginner
320 pages
9h 45m
English
For Dummies
Content preview from Data Science Strategy For Dummies

Chapter 22

Introducing Data-driven Business Models

IN THIS CHAPTER

Bullet Describing what a business model is

Bullet Sorting out the fundamentals of a data-driven business model

Bullet Using a framework for data-driven business models

The increased use of data is transforming the way companies do business. With advanced analytics, machine learning, and access to new data sources, companies in one sector can play a role in the products and services of others — even those far removed from their traditional line of business. This blurs the boundaries between industries and changes competitive dynamics. Companies that embrace the full range of opportunities and transform their business models in parallel with these shifts will find new opportunities for revenue streams, customers, products, and services. In this chapter, I describe how you can approach the area of data-driven business models.

Defining Business Models

First you need a working definition of a business model. It’s generally described as the foundation of how an organization creates, delivers, and captures value in economic, social, cultural, or other contexts. The process of business model construction and modification, also called business ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Hands-On Data Science for Marketing

Hands-On Data Science for Marketing

Yoon Hyup Hwang
Managing Data Science

Managing Data Science

Kirill Dubovikov

Publisher Resources

ISBN: 9781119566250Purchase book