Understanding Data Products: Motivations, Definition, and Categories

Abstract

As the volume of data exponentially increases, organizations are looking for smarter ways to create the most value from their data. One approach to achieve this is through developing data products. Although the idea was initially presented in the 1990s, the concept remains nascent, leading to different groups forming their own interpretations about data products. Leveraging the literature and multiple case studies, we aim to harmonize the understanding of data products and identify their characteristics. Additionally, our empirical findings shed light on the motivations to develop data products as well as the emerging data product categories. By clarifying the foundations of data products, our study contributes to the ongoing discourse around scaling data and analytics in enterprises to repurpose and consume data efficiently and cost-effectively. For practitioners, our study provides insights into different motivations and priorities associated with data products, which can help them scope their data product initiatives