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Manuel Fritsch / Alevtina Krotova IW-Report No. 9 11. March 2020 How Data-Driven are Business Models in Germany?

Data is rapidly becoming one of the most important business resources. A growing number of companies address the question of how they can use data profitably in their business.

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How Data-Driven are Business Models in Germany?
Manuel Fritsch / Alevtina Krotova IW-Report No. 9 11. March 2020

How Data-Driven are Business Models in Germany?

IW-Report

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German Economic Institute (IW) German Economic Institute (IW)

Data is rapidly becoming one of the most important business resources. A growing number of companies address the question of how they can use data profitably in their business.

In this context, data-driven business models become an increasingly decisive competitive factor, as examples of successful American companies such as Google or Facebook show. German companies have also recognised the importance of data-driven business models. A survey by IW Consult reveals that almost 31 percent of German companies already have a data-driven business model. Companies are diversifying their portfolios by offering a range of different products - from traditional to computerized to data-driven - in order to meet increasingly complex customer needs. The vast majority of companies are driven by competitors in the market and perceive impulses from substitutive products as motivation to adapt own products in their business models. Companies that already have a data-driven offering perceive the search for IT specialists and financial resources as the greatest obstacle to the implementation of data-driven business models. Companies that offer traditional products and services are mainly hindered by strategic issues, such as lack of clarity about the benefits of data-driven services, a lack of a development strategy or a lack of ideas for digital products. Three recommendations for action, which show how companies can transform their business models into data-driven ones, were identified: clarify the potential of data-driven business models, strengthen networks between companies and scientific actors and define the legal framework.

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How Data-Driven are Business Models in Germany?
Manuel Fritsch / Alevtina Krotova IW-Report No. 9 11. March 2020

Manuel Fritsch / Alevtina Krotova: Wie datengetrieben sind Geschäftsmodelle in Deutschland? – Analyse des Status quo

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German Economic Institute (IW) German Economic Institute (IW)

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