Innovation Platforms

Data and analytics is the heart of a digital business platform. Today, big data (BD) becomes useful when it enriches decision making that is enhanced by application of analytical techniques and some element of human interaction. With the merging of data and information vs. knowledge and intelligence, this chapter investigates an opportunity for cross-fertilization between BD and the field of digital business with related disciplines. Primary BD and analytics platform is a set of business capabilities. This chapter aims to investigate the potential relationship of BD and analytics platform and digital business platform. In doing so, it develops a BD value chain framework, BD business model pattern (BDBMP) with related levels of BD maturity improvement. This framework could be used to find answers on the basic BD and digital business relationship questions.

Digital Platforms

This chapter reviews the following key aspects of platform research: platform strategy, dynamic capabilities, and business models. The main platform typologies and basic definitions are described first. It provides a brief summary of the literature relating to arguing platform strategy, platform life cycle, platform building blocks, and business models. A platform strategy categorization taxonomy and platform practical strategies of preventing platform disintermediation are developed. The main types of platform business models are introduced. The multi-sided platform business model pattern (MSP BMP) is designed. MSP BMP is used as a basic conceptual framework and knowledge management tool for describing, analyzing, and interpreting non-price instruments used by digital platforms, especially platform intermediaries.

Integrated and Transactional Platforms

In recent years, crowdsourcing has increased in popularity as a method for gathering ideas for new innovations and providing solutions to existing problems. In this chapter, crowdsourcing intermediaries and business models are analyzed. How intermediaries' providers are managing interactions between different groups of platform actors (contributors) in order to receive new ideas, feedback, and solutions for improving consumers products and services is studied. Crowdfunding platforms are discussed based on crowdsourcing open innovation vision. Hence, research focuses on crowdfunding innovations for alternative financial services. The chapter aims to collect and analyze quality data regarding the current status and prospective evolution of crowdfunding. The study offers classification and examination of the current status of crowdfunding and proposes a definition of the crowdfunding multi-sided platform, develops research framework for crowdfunding platform comparison and business model analysis. The results of this chapter reveal benefits but also practical challenges to overcome before innovation crowdsourcing and crowdfunding intermediaries can be effectively utilized.

Innovation Platforms

This chapter reports on a study of the taxonomy of innovations for the internet of things (IoT) products and services. The analysis and discussion lead to a multidimensional framework of innovations, with a particular emphasis on a technology stack, business models, products, services, and platform innovations. The authors argue that a multi-sided platform might possibly be a successful business model for the adoption of IOT products and services. They develop IOT business-model pattern and the general definition of a IOT multi-sided platform. The research contains guidelines to help practitioners and policy makers develop platform-enabled IoT innovation strategies through the consideration of various levels of business models and MSP strategy. It offers a relevant source of ideas and guidance for anyone interested in research and practice related to rethinking IoT, product, and service innovation.

Integrated and Transactional Platforms

This chapter aims to collect, analyze, and compare quality data regarding the current status and prospective evolution of search engine platforms offered by leading platform companies. The authors describe the search MSPs competition across different markets in a general way and compare several emerging markets where Google MSP is not a leader. The methodology and organization of search platform ontology/taxonomy and search platform business models are discussed. Then detailed comparative analysis of search MSP innovation services and strategies is developed for Google SMSP and Yandex SMSP. Finally, the possible ways of further evolution of local SMSP and services are discussed.

Transaction Platforms

In this chapter the author gets involved with transaction platforms or multi-sided platforms that facilitate transactions between different types of actors. Transaction platforms are usually platform intermediaries. All platforms are digital: they capture, transmit, and monetize data over the internet and other networks, but they may as well have some physical elements included in the product offering. The author provides a platform innovation taxonomy that is a conceptualization and formalization of elements, relationships, vocabulary, and semantics of different dimensions of transaction platform innovations.

Digital Platforms

This chapter focusses on the necessary platform components like technology, leadership, talent and skills, delivery, trust, marketing, ecosystem, and business models required to support the capabilities of digital business innovations. The multidimensional platform organization and management is discussed.