Determining business value propositions with open data, a hands-on approach

Dec 3, 2022

The world of open data is growing very quickly, and while it may seem strange to build a business around open data, new models are being created more often and showing how to use open data in a business in a useful and profitable way.

Understanding what type of open data can help a business grow involves not only understanding what open data is, but also creative thinking around what can be done with the data.

In order to accomplish this, it is helpful to understand two things.

  • How open data can be used in the wider economy to help innovation, growth, and increase an organizations economic prospects.
  • The business models that are being used by open data publishers to support open data releases and demonstrate their value to publishers themselves.

Once useful data sources have been identified, a business owner must assess the associated risks and decide how to integrate them into their business value proposition.

In this workshop, we will demonstrate how to identify business value propositions with open data.

We will look at how open data from the public and non-profit sectors can help you make decisions about your business and come up with marketable product solutions. As a hands-on experience, we will explore different functional domains to apply the data in and define client profiles. We will approach this by extracting valuable information from open data sources and exploring different functional domains to apply the data in. We will then explore which client profiles we can identify and which current problems we can address by utilizing open-data.

The main questions we’ll cover in the workshop are:

  • What is the value we deliver to the client?
  • Which client problem are we helping to solve?
  • Which goal are we helping the client achieve?
  • Which client needs are we addressing?
  • Which bundle of products and services are we offering to each client segment?

This workshop will be a great opportunity for entrepreneurs interested in using open data to grow their businesses, or individuals who are interested in exploring new opportunities as an entrepreneur.

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