Claro Partners | Data Monetisation & Concept Design
8468
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Data Monetisation & Concept Design

Data Monetisation & Concept Design

BUSINESS DESIGN
Technology

What role can a leading semiconductor manufacturer play in bringing new data-driven wearable solutions to users?

In six months, we developed and implemented a data monetisation strategy for a global computer-chips supplier.

 

We leveraged our expertise in personal data and IoT, and conducted deep industry analysis to produce a compelling commercial case for a new wearables data strategy. We kick-started the five-year implementation roadmap that we recommended and designed three concepts for B2B users.

Challenge

Our client’s core business of supplying parts to computer and device manufacturers was fast maturing. To produce fresh revenue streams, they built new IoT and data offerings, and acquired several wearables startups. In the process, they gained access to an asset they had limited experience with: customer data.

 

Our objectives were both cultural and practical. We needed to persuade our client that, unlike the computer chips they manufacture, customer data is not an end in itself or an asset for sale. Rather, its value rested in its ability to improve human and business understanding and to enable new experiences. We also needed to develop a coherent monetisation strategy and design user-centred concepts to bring it to life.

Approach

After exploring the IoT and data ecosystem through expert interviews and data analysis, we built a business case for a new data monetisation strategy. This strategy was optimised for sustainability using a bespoke framework to analyse data ecosystem players. It was also designed for actionability, as it accounted for internal capabilities and attitudes towards change.

 

To concretise the strategy, we then designed concepts for health, logistics and construction user groups. Each concept was equipped with the following:

  • Value proposition and user experience
  • Data solution and data partner selection
  • Competitive differentiation
  • IoT service diagram
  • Business model with risk analysis
  • POC pilot design
Impact

Our client accepted our recommended strategy for wearables data monetisation. We then co-created several data-driven concepts for B2B contexts and prioritised them based on customer desirability, technical feasibility and commercial viability.

 

A concept featuring one of our final value propositions has since been produced and tested in a pilot with logistics workers in several distribution centres in the U.S.