A study on the big data business model for the entrepreneurial ecosystem of the creative economy

Abstract

The entrepreneurship required for a creative economy is one that promotes job creation through the creativity of CEOs who have entrepreneurial spirit as well as excellent knowledge and technology. This entrepreneurship plays a critical role in the construction of a venture business ecosystem. Meanwhile, big data, until now, have consisted only of numbers and texts that are specified and standardized by certain structured rules. Nowadays, however, big data analysis methods are being developed to gain information and business opportunities from new aspects through the use of nonstandard data. The big data technology is becoming a core element in the new digital age rather than just a trend, and the big data strategies are progressing from the testing stage to the implementation stage. In particular, as the importance of nonstandard data is increasing, limitations of the conventional system analysis appeared, and the analysis methods of advanced analytics are being highlighted. The scope of big data is anticipated to expand in enterprises with the emergence of many application cases, such as the real-time use of the data. The business model for the formation of the entrepreneurial ecosystem of the creative economy can assist the construction of an entrepreneurial platform as a catalyst for the stimulation of innovative business start-ups. This entrepreneurial platform can produce such effects as fast product development, commercialization of technology, risk reduction, and job creation. In this study, the operating model formation according to the characteristics of the industry or the business model in operation, the profit creation sources, the scope of value provision, and the priorities with regard to the required data were examined. Furthermore, cases related to the performance of big data business models of advanced corporations were examined, and a big data business model for the formation of the entrepreneurial ecosystem of the creative economy in the 21st century was derived. © Springer Science+Business Media Singapore 2016.