A conceptual model of benchmarking data and its implications for data mapping in the data economy

Digitalization of the economy requires enterprises from all industries to revisit their current business models and prepare their organizations for the digital age. One task is the (re-)design of hybrid and digital products and services. The foundation builds the improved interchangeability of data and the availability of external data sources through data markets and platforms. This leads to the requirement of a structured decision-making while mapping data sources to digital products. In order to successfully transform their business and develop valuable new products, companies require methodological help. This paper proposes a high-level conceptual model for the assessment of data sources value. It consists of an approach for comparing data sources based on a common description of data and individual metrics definition enable a benchmark process. The development of the model and its practicability has been validated in a case study with an industrial partner.