Data strategies for global value chains: Hybridization of small and big data in the aftermath of COVID-19

•Explores the role of data strategies in re-configuring GVCs in post-COVID-19 world.•Simultaneous investment in hybrid data strategies tackles bounded rationality challenges in GVCs.•Small data gathering efforts lead to stronger ties and network closure addressing bounded reliability challenges in GVCs.•Configuration of hybrid data strategies decide the robustness and effectiveness of decision-based view of GVCs.