We foresee to revolutionalise the European Data Market by helping users, such SMEs, large enterptises and public administrations, to better monetize, govern and enhance the trust of their data, empowering them to become new relevant players in the data economy
95%
of organisations suffer from the data decision gap, i.e., they cannot rely on data to make accurate decisions
10-30%
Poor-quality data alone is estimated to be costing companies around 10-30% of their revenue
60-73%
of data is never used for analytic and only 32% of companies can realize tangible and measurable value from data
The DATAMITE project understands the precise nature of existing barriers and develops a simple but impactful technical framework that enables European enterprises and public administrations to overcome existing challenges and facilitate the monetisation of their data. The core target consists of helping users to better monetize, govern and enhance the trust of their data by developing a set of key modules: Data Governance, Quality, Security, Sharing & Supporting Tools. Interoperability with current leading storage technologies is achieved by building them on top of existing open-source components. The community uptake is driven by providing intuitive graphical interfaces, and by detailed documentation and tailored training materials addressing both technical and business aspects.
DATAMITE unleashes the monetisation potential at two levels: internal and external. At an internal level, users have tools to improve the quality management of their data, the adherence to FAIR (Findable, Accessible, Interoperable, Reusable) principles, and can upskill on technical and business aspects. Therefore, data becomes trustable, reducing the data-decision gap, and more reliable in other paradigms like AI.
At an external level, keeping users in control of their data provides new sources of revenue and interaction with other stakeholders, e.g., in ecosystems like the International Data Spaces (IDS), data markets or the European Open Science Cloud (EOSC). In addition, the architecture envisioned for DATAMITE enables DIHs sandboxing, becoming a potential instructor on their onboarding of SMEs and low-tech SMEs into the data economy.
Together, DATAMITE’s solutions function as a catalyst to boost data monetisation in the European productive fabric.
