Innocentive: Establishing a Business Value for Data

Seeking methodology for quantifying the value of different types of business data in order to inform large scale investment decisions concerning improving data infrastructure, supply chain and management.

Establishing a Business Value for DataEstablishing a Business Value for Data

AWARD: $10,000 USD
DEADLINE: Jan 13, 2014
Challenge ID: 9933411

Challenge Overview
All modern businesses have an overwhelming quantity of data of various types and for various uses, but associated with this are costs for collecting, managing, and storing the data. The Seeker would like a methodology for assigning value to various types of data in order to justify the expenses associated with such data. There is an understanding of previous research work such as by Moody and Walsh but the Seeker would like different viewpoints on the subject, although practical implementations of such research are acceptable.

This is an Ideation Challenge, which has the following unique features:

  • There is a guaranteed award. The awards will be paid to the best submission(s) as solely determined by the Seeker.
  • The Solvers are not required to transfer exclusive intellectual property rights to the Seeker.

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