The possession of vast amounts of data is hardly unique to an organization in today’s world. With all of this data at hand, organizations are given the opportunity to drive process efficiencies, establish new revenue streams or even re-invent their entire business model. With data being at the core of these activities, companies thrive to get the most value out of it.
Together with the collaboration partner BASF SE, this research project aims to develop a better understanding of how organizations can determine and leverage the value of their data assets and how this impacts their data management activities. Particular focus is put on the opportunities arising from engaging in an open data strategy. By opening up externally, organizations may benefit from an extended data ecosystem, which may ignites the spark of internal innovation.
In the context of this research project, it will be explored how private sector organizations can benefit from an open data strategy and what process, organizational, and infrastructure changes are required to leverage its full potential. Furthermore, it will be explored what open data ecosystems are made up of, how value is created and captured.