Exploring the Role of Big Data in Driving Business Model Innovation: Research Trends and Hotspot Identification (2014–2024)
Zhang Zeyu, Hasliza Abdul Halim

Abstract
Big data has transformed business paradigms by influencing the evolution of business models, highlighting their essential role in facilitating technological advancement and strategic development. The main objective of this study is to conduct a comprehensive analysis and identify significant research trends and hotspots in the relationship between big data and business models. This study uses VOSviewer and ScimagoGraphica to analyse scholarly articles concerning the significance of the role of big data in enabling business model innovation from 2014 — 2024. A stringent screening process yielded 428 relevant papers from the searched Web of Science database. The analysis reveals a steady rise in research on big data and business model innovation, peaking in 2022, with subsequent stabilisation. China leads the research, followed by contributions from Europe and North America. The study identifies key research hotspots, including Industry 4.0, artificial intelligence, the Internet of Things, sustainability and the circular economy. This study enhances researchers‘ understanding of the connection between big data technology and business model innovation, potentially creating new opportunities for sustainable development.

Full Text: PDF