Data-Driven Business Models: Data-as-an-Asset
Society is becoming increasingly reliant on data, especially with the advent of AI. However, a small handful of organizations with both massive data assets and AI capabilities attained worrying levels of control which is a danger to a free and open society. European companies aim to unlock data, for more equitable outcomes for users of data, using a thoughtful application of both technology and governance. On Decentralized Data Marketplaces companies and individuals can publish data, stake on data (curate), and buy data. Typically, data has automatic price discovery, and is published as interoperable ERC20 datatokens. A privacy-preserving “Compute-to-Data” approach enables private, or other sensitive data to be bought & sold.
Decentralized Data Marketplaces
Companies with data-driven business models base their core business on data. This focus, on data can affect all dimensions of a business model; the value proposition and value added or the revenue model. Value added is generated from data by leveraging data as the company’s key resource; i.e. its core activities include data acquisition, data evaluation or data use. Data-driven solutions show that when data becomes the core element of a business model, this goes far beyond evaluating and using data to make the process of value creation more efficient. Companies must ask themselves how they can use technologies as well as existing or new proprietary and third-party data to deliver data-driven services and products.
Shift Sessions Vol. 3 – Roundup
In this Shift Session, we explain how data can be generated, distributed and monitized in order to become the basis for data-driven business models: data becomes an asset. Based on an in-depth practical experience with data management, we discuss the impact of decentralized data marketplaces on the business landscape in general and your industry. Based on your insights into your enterprise and the market you’re in, we envision how you and your company can leverage data to create business models on top of it and achieve operating excellence leveraging decentralized data marketplaces.
After the Shift Sessions, you will have mastered data monetization fundamentals. You will have gained a strong basis for discussing with other executives, engineers, and investors. You can create ideas for new business approaches based on data-driven businesses and orchestrate or trigger joint strategies with competitors or other market participants.
Shift Sessions Vol. 3 – Topics
In this Shift Session, technological, business, organizational, legal, and regulatory aspects of SSI will be discussed and put into a broader context.
- Technology: Data marketplaces allow for the exchange of data in a secure, privacy-preserving fashion. These aspects and their impact will be discussed and compared to existing centralized data-driven solutions.
- Business: Due to its decentralized architecture, Decentralized Data Marketplaces differ from other data business concepts regarding their potential of allowing for a compute-to-data ability to contract.
- Organization: In contrast to traditional organizations, Decentralized Data Marketplaces inherit the need for a Blockchain / DLT-based governance model that lays the base for all network decisions. We discuss the Institutional Role Model (IRM) as a foundational layer for governance elements and what is needed to exchange decentralized verifiable credentials sustainably or create and organize a respective Blockchain-based consortium.
- Legal/Regulatory: A decentralized data marketplace has to comply with laws and regulations that have been initially designed for centralized entities. We explain how existing European rules and laws and Decentralized Data Marketplaces fit together.
About Shift Sessions Vol.3 Data Monetization
This Shift Session is being organized under the patronage of the European Blockchain Association e.V., which provides theoretical and practical expertise in its Working Groups Professors of Technical University Munich TUM, and Zeppelin University, provide academic coaching, and Data Architects of Ocean Protocol provide practical coaching.
If you are responsible for overseeing and /or managing a company, and you feel the need to learn more about data-driven business models, data monetisation and their diverse future impacts on your enterprise, feel free to contact us to arrange for your personal coaching Shift Session: