Commercializing Big Data as An Asset in the Construction and Built Environment: A Conceptual Framework

The construction and built environment (CBE) sector generates vast amounts of data from IoT devices, BIM models, and project records with untapped potential as a monetizable and strategic asset. This paper develops a conceptual framework for commercializing big data as an asset in the CBE. With a grounding in data assetization theory and resource-based view, a systematic evidence synthesis of 52 studies identified from Scopus and Web of Science databases is undertaken to identify foundational concepts, thematics gaps, and opportunities for commercializing big data as an asset in the CBE. The proposed conceptual framework structures the commercialization logic within three main dimensions of integrated value chain processes, ecosystems, actors and stakeholders, and enabling infrastructure. The integrated value chain process encompasses data governance, acquisition, processing, monetization, and utilization. Within these processes the key stakeholders include data regulators, producers, aggregators, brokers, and consumers. At its core, the pathways to monetization are realized through the sale and licensing of data products, services, solutions, and platform-sharing arrangements. These are enabled by technical infrastructure encompassing modelling and monitoring tools, secure storage and sharing systems, analytics and intelligence tools, and data exchanges and marketplaces. To demonstrate the operationalization of the framework, a proof-of-concept prototype is developed to simulate CBE scenarios through which big data assets are transformed from acquisition to utilization. The implications these hold for theory, industry practice, and policy are addressed, together with future research directions for piloting and experimenting with the framework at scale. • Under-exploration of data-as-an-asset concept in the construction and built environment (CBE). • Assetization opportunities for CBE big data across project, organizational, building, city, sectoral, and national levels. • Business models for CBE big data assets include data products, data services, analytics services, and platform-sharing models. • Valuation approaches for CBE big data assets include utility-based, cost-based, and market-based approaches. • Commercialization framework for CBE big data assets conceptualized under five key integrated value chain processes.