32 ways to innovate business models through data: Emerging data-driven solution business model patterns from a study of 471 late stage data-driven startups

Abstract

Solution business model patterns, which describe solutions to recurring business problems, play a central role in business innovation as 90% of business model innovations are recombinations of solution business model patterns. Research so far has only identified seven data-driven solution business model patterns limited to revenue models in data-driven services. We have systematically analyzed 471 late stage, data-driven startups, identifying 32 data-driven solution business model patterns. We categorized them along the nine business model building blocks from the business model canvas of Osterwalder and Pigneur. A framework that is often used by practitioners in business model innovation projects. This paper significantly expands the research conducted on data-driven solution business model patterns. Furthermore, the identified data-driven solution business model patterns will support practitioners in data-driven business model innovation.