Data-driven business models are not new. The Yellow Pages or model agencies, for example, rely on a dataset as their core asset. However, as digitalisation affects more sectors of the economy and society, increasing amounts of data are available and technical innovations make the collection, storage, processing, distribution and analysis of data much easier. The utilisation of data increases productivity, efficiency and supports the creation of new technologies, products and services.
Accordingly, data also has implications for competition. There are fears that companies could use unique sets of data to hamper competition or even become undisputed monopolists. The enormous economic success of fi rms using data-driven business models facilitates these fears.