DATA-DRIVEN ECONOMIC TRANSFORMATION: DIGITAL PLATFORMS, INSTITUTIONAL CHANGE, AND THE RECONFIGURATION OF VALUE CREATION

Abstract

This article examines data-driven economic transformation as a defining feature of the contemporary digital economy, focusing on the role of digital platforms in reshaping institutional structures and value creation mechanisms. The increasing centrality of data as a strategic economic resource has altered traditional production, coordination, and exchange processes, giving rise to platform-based ecosystems characterized by network effects, algorithmic governance, and multi-sided interactions among economic actors. These developments necessitate a rethinking of established economic theories and regulatory approaches. The study conceptualizes digital platforms not merely as technological intermediaries but as institutional infrastructures that redefine market boundaries, reorganize incentives, and redistribute economic power. Particular attention is given to the ways in which data-driven architectures enable new forms of value co-creation while simultaneously introducing challenges related to data governance, market concentration, and institutional asymmetries. The findings highlight that sustainable data-driven transformation depends on coherent institutional frameworks, transparent data governance mechanisms, and balanced regulatory interventions. The results contribute to the broader discourse on digital economy transformation and provide analytical insights relevant for policymakers, platform strategists, and researchers.