Big Data has emerged recently as a new digital paradigm, one that companies adopts in order to both 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 and service design, quality management, and opportunity recognition and creation. However, while these have resulted in the emergence of a rich research domain focusing on the managerial and practical implications typically addressed from the user perspective, there is still a lack of complete understanding of how companies that provide Big Data solutions can create and capture value from them. This paper explores the question of how provider companies create and capture value from Big Data, drawing on a multiple-case study analysis of provider companies that offer solutions and services based on Big Data. The results illustrate a theoretical framework on value creation and capture by relying on Big Data and identify two main innovation service strategies based on Big Data used by provider companies. In addition, this paper provides valuable insights as to how the network of involved stakeholders influences the design and implementation of the innovation service strategy by the provider companies.