This workshop will enable companies to understand better how to determine the value of data and data sets when attempting to buy or sell on data marketplaces. This will be done by looking at how companies can access data marketplaces and then hosting an interactive session to determine how such platforms arrive at values for data exchanges. Through this, participants will learn how they can price their data and develop new business models. To complement this, the audience will be introduced to the training resources available through the EUHubs4Data Federation support catalogue, which helps companies develop new business models, price data and establish data exchanges.
With data being described as the “new oil”, how can SMEs correctly value and price their data to create new revenue streams and business models to take advantage of the new data economy? Understanding the value of the data you produce can be a complex process, as the standard factors to determine pricing may no longer apply when valuing data.
Establishing new business and pricing models for your data is one way companies can benefit from Europe’s data economy, but creating new models can be difficult without understanding the market.
In this workshop, the business and data experts (from the Athens University of Economics) and training professionals from the KNOW CENTRE Digital Innovation Hub (part of the EUHubs4Data project) will help SMEs to understand how they can put a value on their data and begin to trade in the data economy, through an interactive session that explains the process of creating a business model for data exchanges.
The i3-MARKET presenters, the Athens University of Economics and Business, will explain how SMEs access European data markets (using the example of i3-MARKET technology) and how they intend to price data exchanges on the platform, based upon your input of how your company operates and trades data. This interactive session will also allow you to better understand the value of the data you have generated so that you can begin to price your data appropriately.
Following this session, KNOW CENTER, one of the Digital Innovation Hubs in the EUHubs4Data DIH Federation, will explain the resources available within the Federation to help SMEs develop new business models and better understand how they can take advantage of their data, and join Europe’s data economy.
Introduction to the workshop – James Philpot
|09.35 – 11.35|
The Price of Data Workshop – Athens University of Economics and Business: Vasiliki Koniakoi and Timoleon Farmakis
|11.35 – 12.00||How can Digital Innovation Hubs help SMEs monetise their data and develop new business models? KNOW CENTRE, Christof Wolf-Brenner|
The i3-Market project has received funding from the European Union’s Horizon 2020 Research and Innovation Programme under grant agreement no. 871754.