Data Value Check

In every company there is a lot of valuable data circulating which is still used far too less. As top experts in the fields of Big Data and Data-Driven Business, we speak the language of data! Using the Data Value Check developed by Know-Center, we look beyond the horizon and answer the question together with you:

What value is in your data?

 

Today, data is the central resource for economic success. Increasing digitalization generates more and more data in all areas of business and industry. Modern analytical methods open up these large amounts of data.

The results are often astonishing: data-driven processes, services and products are optimized and newly developed. For example

  • Reduce maintenance costs
  • Predict market phenomena, or
  • Develop new business models

This opens up savings potential, competitive advantages and access to new business areas for companies.

Data Value Check is a solid recommendation for the implementation of data-driven projects or the establishment of data-driven business in companies.

Robert Ginthör, Chief Technology Officer & Business Development

Objective of Data Value Check

Data Value Check is used to generate and select promising data-driven use cases based on a cost-benefit logic. In order to evaluate the benefit potential of data, it is necessary to consider not only technical but also economic and legal factors.

Since the assessment of data suitability in particular is a relatively complex task, less promising, too risky or simply impossible, use cases must be identified and discarded as early as possible in order to guarantee an efficient process.

Procedure

  1. IDEATION – Ideas for data-driven use cases are cooperatively generated and documented. The starting point for the evaluation of the use cases is an objective description of the individual possibilities for the use of data.
  2. IMPACT – Evaluation and ranking of ideas according to economic added value and contribution to goals on the basis of utility value analyses.
  3. COST – Classification and ranking of the use cases based on previous project experience and assuming optimal data suitability.
  4. DATA APPROPRIATION – Evaluation of the data quality with regard to its suitability for exploitation in the use cases. Both technical and legal criteria and framework conditions are examined.
  5. VISUALIZATION – Presentation of the results and recommendations for the final selection.

Our Offer

Data Value Check provides you with a well-founded statement about the feasibility of your data-driven use cases, including the economic and technical aspects as well as the legal perspective. (DSGVO, copyright,…etc.) With this 360° view, Data Value Check enables you to facilitate decision-making on the one hand, but also to raise awareness of the requirements and possibilities in the field of data analytics on the other.

Interested? We are looking forward to get in contact with you!


Feedback & Reference

In 2019 more than 120 use cases have already been developed and evaluated together with 6 partners. Among these companies were for example, FFG or Reval.

We are also pleased about the numerous participants who accepted the invitation to our online talk series ‘Added value from data’.

Feedback ‘Generating added value from data’