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10 Apr 2019 | 12:30 - 12:50 | Big-Data.AI Summit

The Future of Added Value in the Data Economy

Joan Clarke Stage
Stage BAS
Data is at the centre of the value-creation process. Companies need an elaborate data culture and cutting-edge data management that ensures both high data quality and adherence to data protection and data security regulations. Digitalisation as well as data & analytics have become key areas of activity for companies to remain competitive in the global market and meet the requirements of their clients. Companies can only succeed if they recognise their own data as assets, properly prioritise data quality and data management and 'refine' their own data with data from external sources. This presentation will focus in particular on data-based business models and how data economy can be achieved through data sharing. Sharing and enriching data is a new and increasingly important aspect of data economy. A company's ability to integrate external data into its own analyses, to share data with other companies and to monetarise enriched data will be decisive for its future competitiveness. In order to translate own data into meaningful and profitable business models, it is necessary to develop a data culture, to increase data quality and to look beyond the horizon of the company's own data. Data sharing can occur in various configurations. The simplest form of data sharing occurs within the company itself in order to overcome data silos. But data sharing is also possible between companies based on various technical solutions. The last part of the presentation will consist of practical examples addressing models currently used and how data sharing could look like in the future.
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