How to create value from data: an electronics supplier wanted to understand the relevance of data for his business, i.e., which data is potentially relevant (and which is not) and how to monetize it. Therefore, we identified data landscapes and sources to forge efficiency improvement potentials for our client.
Our client struggled with the question of how to actually unlock the value of data. As the amount of data organizations store grows significantly in business environments these days, companies need to reconsider their data handling, storage and structures. The business potential data copes is often underestimated.
We developed a data landscape with relevant focus fields, tailored to our client’s business. In addition, we created transparency on all data classes in his industry, i.e., what types of data exist in which systems and who owns them. Last but not least we identified potential concrete offerings through a series of workshops and interviews with the relevant stakeholders and experts in the organization.
The focus field and data landscapes allowed for a structured discussion and even showed potential for organizational efficiency improvements. More than 100 ideas were identified, which resulted in 3 being pursued further with tailored approaches, i.e., one was handed over to an internal start-up, one was followed-up by management and the 3rd one handed over to a factory for further development and testing.