Barbara Krumay and Stefan Koch (JKU Business School, Institute for Business Informatics - Information Engineering) presented the results of their study "Data as the New Currency - An Empirical Study Using Conjoint Analysis", opens an external URL in a new window at the renowend European Conference on Information Systems (ECIS) 2023 in Kristiansand, Norway.

The paper addresses consumers' willingness to protect their data by paying for online services with money or data. It uses a conjoint analysis to examine preferences and finds that the choice of payment method is influenced by the type of online service.

Krumay, Barbara and Koch, Stefan, "Data as the New Currency - An Empirical Study Using Conjoint Analysis" (2023). ECIS 2023, opens an external URL in a new window

Abstract

Since data and information are becoming important factors in competitiveness in the digital age, organisations tend to have an enormous appetite for data. However, users are becoming increasingly reluctant to provide their data without receiving some benefits. Therefore, it is necessary to identify the extent to which consumers are willing to protect their data by paying for the use of a service with money or with data. This study investigates willingness to pay for an online service by examining both money and data as currency (i.e. the users’ privacy costs). Furthermore, this study is an empirical investigation that uses conjoint analysis to determine whether different service types show different preferences and which characteristics are decisive. The findings show that the online service used has an impact on whether people pay with money or their data.