A review of the big data analytic process and popular relevant tools for value creation is also provided. The article also presents a novel framework for early data reduction at the customer end wherein the analytic-driven data reduction approaches convert raw data streams into actionable knowledge patterns.
The article presents a
hypothetical
business model to achieve the V2C and V2F objectives
of
enterprises. Finally, the article presents the business model canvas
and
maps 10 potential application areas on the business model
canvas.