New business models for open data in the digital economy: a preliminary assessment of the literature

There is increasing excitement about the potential economic and social benefits of using newly released data in open access format (open data). For the government, open data offers potential for improving public service delivery, transparency and efficiency of operations. Open data bring also promising opportunities to generate innovation and economic growth in the economy. By releasing open data, individuals and companies will build new products and services that can feed back into the economy and promote economic growth. Despite recent advances on the matter, the business models that may help extracting the potential value of open data are not well understood. In this research in progress, we review possible directions in the literature to address in what ways open data may be a source for new business and innovation, as well as what challenges and potential barriers emerge on its take up.