What is Data-driven Innovation

The exponentially growing usage and its benefits of digitizing data, as well as changes in data management practices, are continuously moderating the global economy and how organizations perform business operations. While data security is at its prime importance, organizations tend to move from traditional data silo models to inter-organizational data openness and sharing models where everyone who needs access to data is empowered to find, access, interoperate, and reuse (FAIR) data without gatekeepers. The phenomenon of ‘data democratization' has gained attention among practitioners and scholars in recent years as a process of managing inter-organizational open data and empowering employees to develop their innovative, creative, and decision-making skills. Thus, the objective of this book chapter is to focus on this new phenomenon of data democratization and understand how it can support the development of data-driven innovative skills among employees to generate social and economic values based on the results of an in-depth systematic literature review.