Lecture 7: Data Value Chain Management

Novel approaches to flexible, virtual and semantic

The immense amount of data relevant to an organization, interoperability need to be developed to tackle this problem.
from distributed, heterogeneous data sources, Once the data is made accessible, it needs to be processed and
will need to be made accessible in an appropriate way analyzed to make use of it in value-adding processes and
services.

A significant challenge is thus to develop incentive systems

The high volume, velocity, variety and veracity (4 Vs of Big
which
Data)
make clear the benefits of sharing. As already seen, many
require novel approaches to data analysis and mining.
products can and do generate data about their usage which
Foremost business customers might not understand the
can be shared with stakeholders. However, in many cases,
potential benefit of sharing their data with others, or feel the
owners and users choose not to do so. Business customers are
risks associated with sharing data outweigh the potential
often concerned about exposing operational knowledge which
advantages.
could be used to their disadvantage.

A significant challenge is consequently the development of

Furthermore, open data and social media are increasingly secure infrastructures for
being perceived as sharing data with the different stakeholders (HP, 2014) whilst
valuable sources of product usage information in the design retaining privacy and data security. This challenge needs to be
and co-creation of products (Piller and addressed taking social, technical and legal considerations
Tseng 2009) and the provision of product service systems. and solutions into account (Barnes 2006). Secure
These data sources can be used by producers to gather more infrastructures for big and open data sharing will
detailed information about the actual use of a product by consequently need to involve moving data security controls
individual users, and fed back into different lifecycle phases to closer to the data store and data itself, rather than placing
inform decisions throughout the lifecycles of the current or them at the edge of the network (Tankard 2012) and
future product iterations. increasingly mean including technical means to create policy-
aware data transactions (Weitzner 2007)