ABSTRACT
The notion of the business model is a relatively idea that has been developed by business academics and consultants to help explain how a business operates and why some are more successful than others. A common feature of many of the new firms using data at the heart of their business models is the development of platforms to offer a more compelling proposition to consumers as well as to provide a competitive advantage over rivals. This chapter outlines the economics of information makes competition in established and emerging data-driven markets a more complex and fast-moving phenomena as Bloomberg is discovering. It shows how some of the world's largest and most profitable companies have created empires around the exploitation of internet-generated data, based on creating advertising platforms. The chapter considers the use of technology platforms as a strategy to build sustainable data-driven businesses and presents some examples of the innovative business models being developed by firms across a range of sectors.
