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Delivering social, environmental and business impact with data spaces

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Develop your sector’s data-sharing initiative with help from the ODI

People to talk to about Delivering social, environmental and business impact with data spaces

The EU Data Strategy has pushed data leaders across all sectors to consider new forms of data collaborations that create a single market for data for the benefit of businesses, researchers and public administrations.

The potential financial benefits of data sharing ecosystems can reach 9% of annual revenue of an organisation in the next five years – equivalent to over $940 million for a typical organisation with annual revenues of $10 billion.

Do you see the value of creating, or being involved in, a data-sharing ecosystem, but want advice on how to get started? We help you develop your sector’s data-sharing initiative and help you show how your vision for data links back to your organisational goals.

How the ODI can help you define your data-sharing initiative

  • Defining the challenge: We will co-define the challenge that can be addressed with data to tackle a specific social, environmental or economic challenge
  • Map the data ecosystem: We will help you map the data ecosystem to show the data, value flows, key stakeholders, and current gaps in building your data infrastructure
  • Assess privacy policies and ethics: We will evaluate the potential negative impacts of sharing data, and consider solutions to mitigate risk and demonstrate trustworthiness
  • Ideate a data-sharing business model: We will explore applicable business models that support launching a data-sharing ecosystem.

The value of data sharing for business

Airbus launched the data collaboration APROCONE with its supply chain and research institution partners, with the purpose of sharing data to innovate aircraft design efficiently, and meet future environmental needs. The project had £19.2m of funding, and key stakeholders included the Centre for Modelling and Simulation (CFMS), GKN Aerospace, MSC Software, Rolls-Royce, and Cranfield University.

Greiner Packaging International (GPI), an Austrian packaging manufacturer, and Spanish logistics intelligence company OBUU, started a data collaboration to help monitor the resilience and efficiency of GPI’s supply chain. OBUU was able to identify a potential reduction of fixed asset investment of around 35%, resulting in a significant cost saving.

Barclays saw the benefits of being a leader in open banking early, when the legislation on the Second Payment Services Directive (PSD2) was implemented. PSD2 requires banks to implement standards that facilitate customers to share their data with other banking providers. Barclays went beyond the requirements and developed a pioneering consumer-focused data aggregation tool that allows its customers to view their accounts from as many as eight other banks within the existing Barclays mobile app.

PassivSystems uses automated meter reading (AMR) to monitor the performance of a portfolio of over 40,000 solar PV assets across the UK. They launched a data collaboration with Open Climate Fix to provide real-time energy demand forecasts and help UK Power Networks predict the supply and cost of maintaining the grid – which was estimated to cost £1bn a year in 2016.

Develop your plan

To help you assess your current approach or design new plans, we are offering seven organisations a free, expert-led discovery session in March 2022. On the one-hour call you’ll work with an ODI data specialist to review your current status and help you identify opportunities and your potential role in emerging European data spaces.

After the sessions you will get written recommendations for quick wins and longer-term improvements.

Apply now for a free discovery session. We will email you about next steps.

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