The main contribution of this article is the concept of early data reduction at the customer and enterprise ends to reduce big data and achieve V2C and V2F objectives.
The article presents the background
of
big data, cloud computing, and IoTs for enterprises to
assist
readers who may not be familiar with these concepts. 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.