Building data ecosystems
Our partner Sitra in Finland recently published a book on Data-driven Competitiveness (2024). Novatrust strongly believes in the principles of data ecosystems in our mission to co-create data spaces. In general there are 9 basic steps to take into account:
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Hypothesis Testing: We break down the pilot into stages, systematically testing hypotheses related to customer needs, commercial potential, and technical feasibility. This allows us to validate assumptions and gather valuable insights.
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Quantitative and Qualitative Evaluation: The success of the pilot hinges on evaluating its performance using both quantitative (measurable) and qualitative (subjective) criteria. We assess how well the solution meets its intended goals.
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Stakeholder Assessment: All ecosystem stakeholders come together to assess the pilot’s outcomes. We jointly analyze the results, considering factors such as user feedback, efficiency gains, and alignment with business objectives.
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Decision on Deployment: Based on the assessment, we decide whether to deploy the solution more widely. If the pilot proves successful, we move toward scaling and broader adoption.
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Clear Communication: We ensure transparent communication of the pilot’s results to all participants and stakeholders. Clarity is essential for informed decision-making.
- Solution design: The ecosystem members need to jointly define the purpose, objectives and customer needs of their joint activities.
- Organisational model: The ecosystem needs a suitable organisational model that supports collaboration and trust, as well as clear agreements on the roles and responsibilities of the actors involved.
- Working culture: The ecosystem needs a shared culture that fosters cooperation and openness, as well as clear ways of working, operating models and ground rules.
- Implementation plan: The ecosystem needs to develop an implementation plan that includes use cases, business plan, revenue model, roadmap and risk analyses.