Business Model Innovation: Monetizing Data for a Car Manufacturer

The Challenge

In the data-driven ecosystem of the 21st century, manufacturers of premium cars, renowned for their tangible products, are grappling with the potential wealth of accumulated data. The dilemma is in the monetization of this data, fraught with hurdles like GDPR compliance and identifying prospective buyers in a continually transforming business landscape.

Our Approach

TechFlowState identified the client’s strategic intent to evolve into a proficient data seller and recommended a phased approach to probe existing B2B data marketplaces. This strategy involved a meticulous analysis using our specialized Technology Radar of Data Marketplaces, evaluating multiple platforms, and leading a focused make-or-buy decision. Subsequently, potential suppliers were shortlisted, subjected to comprehensive interviews, and their offerings were distilled into decision-ready proposals, allowing the client to weigh strategic alignment, investment requirements, risks, and upside potential.

Outcome

Our work culminated in the delivery of a concise decision proposal, distinctly outlining the strategic alignment, requisite investments, associated risks, and prospective business gains. This approach enabled the client to make an informed choice, accurately weighing the implications and potential benefits in line with their business objectives and risk tolerance, providing a clear roadmap for leveraging their data assets.