Big Data has emerged as a new digital paradigm that companies implement to transform existing business models and nurture their innovation activity. The peculiarities of Big Data applications span different fields, such as customer need identification, risk management and decision-making, data-driven knowledge, product design and new product development, and quality management. This has provided the emergence of a rich domain in terms of managerial and practical implications, typically addressed from the user perspective. However, we still lack a complete understanding of how companies that provide Big Data solutions can create and capture value from these solutions. Therefore, this paper explores the question how provider companies create and capture value from Big Data technology. The study draws on a multiple case study analysis of provider companies that take advantage of the exploitation of Big Data technology. The results propose a general framing within the management of Big Data in companies and present the identification of two main innovation service strategies based on Big Data technology. In addition, we highlight how the network of involved stakeholders influences the relationship between strategy development and the effectiveness of the provider companies’ innovation process.