Novel business models that leverage the largely untapped potential of circular economy are gradually emerging in several industries including metals and engineering industry, chemical and biotechnical industry, and pulp and paper industry. These business models are disruptive by their nature as they change value creation and distribution logics of entire supply chains. While most existing academic research and development activities in firms have focused on the crucial role of material flows in developing new business models, the Data to Wisdom (D2W) project focuses on information flows in the circular economy. The goal is the systematic identification and creation of relevant data in radically new value constellations, and the conversion of this data into wisdom that is used to pilot and implement new circular business models.
To reach this goal, the project proceeds with identifying and mapping the key enablers and barriers for circular business models. This knowledge will be exploited when developing approaches for a) new circular business through shift from data to wisdom, b) revolutionising circular value formation by disruptive business models and innovations, and c) leveraging relationships and networks for circular business. The developed approaches enabling circular economy will be tested together with partner companies.