Monetization of Social Media Data: A Systematic Review of Studies, Techniques of Analysis, and Strategies for Value Creation

Social media have become important B2B and B2C communication channels, generating huge amounts of data. However, most companies struggle to measure the value of data and their monetization is still an unknown opportunity. While organizations are increasingly interested in extracting knowledge and monetizing their data by analyzing the value chain, little research has been done to examine data-driven business models and the challenges involved in monetizing the data generated by stakeholder interactions. This study addresses this concern, by conducting a Systematic Literature Review on the monetization of social media data. The search strategy resulted in 35 studies published in the main IS journals identified in Scopus database. Thus, we aimed to map the characteristics of scientific publications related to social media data monetization and the monetizing techniques of analysis and strategies for value creation. We used the bibliometrix package, in the R software. The results present the state-of-the-art about social media data monetization, highlighting different forms of monetization and strategies for generating value through the social media data value chain. The study contributes to the expansion of knowledge of scientific production about social media data and their monetization by exploring value creation opportunities for business.