The project "Data Mining and Value Creation" is a joint project of the Fraunhofer Center for International Management and Knowledge Economy IMW and the University of Leipzig. It is funded by the European Union and the Free State of Saxony. The Fraunhofer IMW investigates the potentials for data-based value creation models in Saxony, while the University of Leipzig focuses on the technical implementation in the field of software solutions. The project runs from April 2018 to March 2022.
In the course of digitization, more and more data is being collected. This also applies to mechanical and plant engineering, because sensors are used in machines, components and materials. But what happens to the data collected in this way? How is it used? How can it be evaluated? Many companies are still at the beginning of these considerations. However, in order to survive in reorganizing value creation networks, they must answer questions about the value of data and its commercial use.
Goals and Implementation
The aim of the project "Data Mining and Value Creation" is to measure the value of data using application-oriented methods. Software solutions are also to enable companies in Saxony to use their data profitably. In the course of the project, a comprehensive range of consulting services will be developed, including scientific, technological and socio-economic methods and instruments. As large a number of Saxony-based companies as possible will be involved in research and development.