Digitalization makes it both possible and necessary to develop data-driven business models which will allow companies to participate in the markets of the future. However, for this they need a basic awareness of their own data: What data does the company generate? Which data contain knowledge that is worth protecting? Which data have what value? This awareness, together with an efficient and entrepreneurial approach to handling the firm’s own data, will be an important factor in making a success of the digital transformation.
The DEMAND project aims to enable companies to manage their data resources effectively and to this end is developing a structure for forward-looking, entrepreneurial data management. The structure is based on the so-called Industrial Data Space, which provides a sovereign data architecture in which companies can trade data. DEMAND aims to use this basic concept to develop such things as business requirements for data management, data governance, the evaluation of data and data-driven business models.
In this project, which is being funded by the Federal Ministry for Economic Affairs and Energy, the German Economic Institute and IW Consult are collaborating with the Fraunhofer Institute for Software and Systems Technology (ISST) and three companies: thyssenkrupp, Advaneo and Breuer Information Technology.
