The subsidiary of the Institute of the German Economy, IW Consult, has developed a maturity model in cooperation with the Institute and the Fraunhofer ISST, which examines the ability of German companies to participate in data economy. The results are based on a representative survey of 1,104 German companies from the industrial sector and related service providers conducted last year.
During the survey, it became clear that German companies have problems with data valuation:
Only every tenth company has at least one advanced data evaluation system.
Although the study concludes that
“The valuation of data enables an economical and effective handling of data within the company as well as with external partners, customers and suppliers. […] By valuating data, companies prepare the actual exchange of data, but do not carry it out yet. Consequently, the valuation of data is a prerequisite for its trading”,
the study also found that
“around 90 percent of German companies […] are still to be classified as newcomers to the valuation of data. The valuation of data is thus the least developed dimension of the data economy in German companies. […] The systematic valuation of data, especially for industrial companies, is still new territory in many cases – almost 94 percent of the industrial companies surveyed are among the newcomers in this dimension”.
The study also provides the following information on the valuation of data:
“In comparison, companies still score best in Data Resource Management. After all, every fifth company is on the second or higher level here (advanced and pioneers). In Data Valuation, the share is only around 10 percent, in the area of Data Business, it is just under 17 percent. Overall, in Data Business, companies on average are better positioned than in Data Valuation. In Data Business, significantly more companies are classified as pioneers than is the case in Data Valuation. This is an indication that the valuation of data still has a downstream preference in the development of data-driven business models. The first and foremost goal of many companies is the introduction of data-driven products and services. The valuation of data accordingly only is advanced as far as absolutely necessary for the introduction of the products and services. Topics such as the monetization of the data or valuation methods for data oftentimes are only checked by the companies in the further steps.”