From data to data asset: conceptual evolution and strategic imperatives in the digital economy era
Purpose – The purpose of this paper is to explore the concept of data assets and how companies can assetize their data. Using the literature review methodology, the paper first summarizes the conceptual controversies over data assets in the existing literature. Subsequently, the paper defines the co...
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2024-01-01
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| Series: | Asia Pacific Journal of Innovation and Entrepreneurship |
| Subjects: | |
| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/APJIE-10-2023-0195/full/pdf |
| _version_ | 1797362272364920832 |
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| author | Tao Xu Hanning Shi Yongjiang Shi Jianxin You |
| author_facet | Tao Xu Hanning Shi Yongjiang Shi Jianxin You |
| author_sort | Tao Xu |
| collection | DOAJ |
| description | Purpose – The purpose of this paper is to explore the concept of data assets and how companies can assetize their data. Using the literature review methodology, the paper first summarizes the conceptual controversies over data assets in the existing literature. Subsequently, the paper defines the concept of data assets. Finally, keywords from the existing research literature are presented visually and a foundational framework for achieving data assetization is proposed. Design/methodology/approach – This paper uses a systematic literature review approach to discuss the conceptual evolution and strategic imperatives of data assets. To establish a robust research methodology, this paper takes into account two main aspects. First, it conducts a comprehensive review of the existing literature on digital technology and data assets, which enables the derivation of an evolutionary path of data assets and the development of a clear and concise definition of the concept. Second, the paper uses Citespace, a widely used software for literature review, to examine the research framework of enterprise data assetization. Findings – The paper offers pivotal insights into the realm of data assets. It highlights the changing perceptions of data assets with digital progression and addresses debates on data asset categorization, value attributes and ownership. The study introduces a definitive concept of data assets as electronically recorded data resources with real or potential value under legal parameters. Moreover, it delineates strategic imperatives for harnessing data assets, presenting a practical framework that charts the stages of “resource readiness, capacity building, and data application”, guiding businesses in optimizing their data throughout its lifecycle. Originality/value – This paper comprehensively explores the issue of data assets, clarifying controversial concepts and categorizations and bridging gaps in the existing literature. The paper introduces a clear conceptualization of data assets, bridging the gap between academia and practice. In addition, the study proposes a strategic framework for data assetization. This study not only helps to promote a unified understanding among academics and professionals but also helps businesses to understand the process of data assetization. |
| first_indexed | 2024-03-08T16:05:56Z |
| format | Article |
| id | doaj.art-e1ad8e64157a4c4b9d8cc8d021b33f97 |
| institution | Directory Open Access Journal |
| issn | 2071-1395 2398-7812 |
| language | English |
| last_indexed | 2024-03-08T16:05:56Z |
| publishDate | 2024-01-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | Asia Pacific Journal of Innovation and Entrepreneurship |
| spelling | doaj.art-e1ad8e64157a4c4b9d8cc8d021b33f972024-01-08T06:33:39ZengEmerald PublishingAsia Pacific Journal of Innovation and Entrepreneurship2071-13952398-78122024-01-0118122010.1108/APJIE-10-2023-0195From data to data asset: conceptual evolution and strategic imperatives in the digital economy eraTao Xu0Hanning Shi1Yongjiang Shi2Jianxin You3School of Economics and Management, Tongji University, Shanghai, ChinaDepartment of Engineering, Institute for Manufacturing, University of Cambridge, Cambridge, UK, andDepartment of Engineering, Institute for Manufacturing, University of Cambridge, Cambridge, UK, andSchool of Economics and Management, Tongji University, Shanghai, ChinaPurpose – The purpose of this paper is to explore the concept of data assets and how companies can assetize their data. Using the literature review methodology, the paper first summarizes the conceptual controversies over data assets in the existing literature. Subsequently, the paper defines the concept of data assets. Finally, keywords from the existing research literature are presented visually and a foundational framework for achieving data assetization is proposed. Design/methodology/approach – This paper uses a systematic literature review approach to discuss the conceptual evolution and strategic imperatives of data assets. To establish a robust research methodology, this paper takes into account two main aspects. First, it conducts a comprehensive review of the existing literature on digital technology and data assets, which enables the derivation of an evolutionary path of data assets and the development of a clear and concise definition of the concept. Second, the paper uses Citespace, a widely used software for literature review, to examine the research framework of enterprise data assetization. Findings – The paper offers pivotal insights into the realm of data assets. It highlights the changing perceptions of data assets with digital progression and addresses debates on data asset categorization, value attributes and ownership. The study introduces a definitive concept of data assets as electronically recorded data resources with real or potential value under legal parameters. Moreover, it delineates strategic imperatives for harnessing data assets, presenting a practical framework that charts the stages of “resource readiness, capacity building, and data application”, guiding businesses in optimizing their data throughout its lifecycle. Originality/value – This paper comprehensively explores the issue of data assets, clarifying controversial concepts and categorizations and bridging gaps in the existing literature. The paper introduces a clear conceptualization of data assets, bridging the gap between academia and practice. In addition, the study proposes a strategic framework for data assetization. This study not only helps to promote a unified understanding among academics and professionals but also helps businesses to understand the process of data assetization.https://www.emerald.com/insight/content/doi/10.1108/APJIE-10-2023-0195/full/pdfData assetsConceptual evolutionStrategic imperativesLiterature review |
| spellingShingle | Tao Xu Hanning Shi Yongjiang Shi Jianxin You From data to data asset: conceptual evolution and strategic imperatives in the digital economy era Asia Pacific Journal of Innovation and Entrepreneurship Data assets Conceptual evolution Strategic imperatives Literature review |
| title | From data to data asset: conceptual evolution and strategic imperatives in the digital economy era |
| title_full | From data to data asset: conceptual evolution and strategic imperatives in the digital economy era |
| title_fullStr | From data to data asset: conceptual evolution and strategic imperatives in the digital economy era |
| title_full_unstemmed | From data to data asset: conceptual evolution and strategic imperatives in the digital economy era |
| title_short | From data to data asset: conceptual evolution and strategic imperatives in the digital economy era |
| title_sort | from data to data asset conceptual evolution and strategic imperatives in the digital economy era |
| topic | Data assets Conceptual evolution Strategic imperatives Literature review |
| url | https://www.emerald.com/insight/content/doi/10.1108/APJIE-10-2023-0195/full/pdf |
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