2024

Olaleye, Sunday Adewale; Adusei, Akwasi Gyamerah

The global rise of data volume from Zettabyte to Yottabyte raises concerns about effectively managing its use and storage. One concern is dark data, which needs to be tapped and used for critical decision-making and insights generation. This phenomenon is a reality in the data economy that requires a solution through productization. The term data economy refers to the expanding economic activity centered around data collection, analysis, and sale. With the digitization of society and the exponential growth of the internet and social media, individuals, organizations, and society are continuously generating and collecting massive amounts of data. This data can be invaluable for companies and institutions to gain insights into customer behavior, market trends, and the performance of their businesses. Despite the scholarly literature that provides some insights, there remains a need for further exploration and clarification of the intersection between the data economy and productization. This study addresses these unresolved issues by thoroughly analyzing academic and industrial literature. The study contributes to the existing body of knowledge by extending the TTF (Task-Technology Fit) theory to conceptualize the relationship between data economy and productization. The study also proposes a comprehensive framework for countries, organizations, and institutions and offers theoretical and managerial implications. It is important to note that this study has its limitations, and future research should address these limitations and further advance the understanding in this research domain.