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Establishing a Business Value for Data

48 Submissions
$10,000 USD
Challenge closed

Challenge overview

The Seeker desires a 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.

This is an Ideation Challenge with a guaranteed award for at least one submitted solution.

Submissions to this Challenge must be received by 11:59 PM (US Eastern Time) on 13-Jan-2014.  Late submissions will not be considered.

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 total payout will be $10,000, with at least one award being no smaller than $5,000 and no award being smaller than $1,000.
  • The Solvers are not required to transfer exclusive intellectual property rights to the Seeker.  Rather, by submitting a proposal, the Solvers grants to the Seeker a royalty-free, perpetual, and non-exclusive license to use any information included in this proposal.

After the Challenge deadline, the Seeker will complete the review process and make a decision with regards to the Winning Solution(s). All Solvers that submitted a proposal will be notified on the status of their submissions; however, no detailed evaluation of individual submissions will be provided.

Use the slider to explore how the Challenge process works:

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