4 steps to your data-driven project

4 steps to your data-driven project

An astonishing 70 % of all data available to companies currently remains unused, even though there’s a real treasure hidden in this wealth of information! Using your product lifecycle data in data-driven projects will not only enable you to improve your products and business decisions – it will also result in added financial value. But how do you set up such a project? To help you out, we have developed a four-step plan:

Step 1: Scope – find the right use case

The first step in any data-driven project is to evaluate the digital strategy and identify potential use cases for small pilot projects. This is done with workshops involving relevant stakeholders to select a small, easily implementable use case with measurable results.

Step 2: Preparation – create the necessary structures

Phase two involves forming the project team and taking stock of your data landscape and IT structures. You’ll identify the sources of data for the use case, determine which sources are already connected and which ones need to be. The overview serves as the foundation for the project. It helps identify limitations estimate the required effort for scaling the use case in the next phases.

Step 3: Implementation – turn the idea into reality

During this phase, you’ll bring the data from the entire lifecycle of your product into a structure that makes it usable for other applications. This allows for the birth of your first digital twin that combines all your different data points – which in turn allows you to optimize your processes and products. The result is a Minimum Viable Product (MVP) tailored to specific parameters of your choice.

Step 4: Scaling – use your idea for further projects

This step is all about making your data-driven project usable on a bigger scale. You implement the MVP as a scalable solution and roll it out accordingly. Parts of your new solution can even serve as a blueprint for further use cases. Since you already created the structures and are familiar with the processes, each additional case will be implemented more quickly and easily.

Learn more in our white paper

Now that you have scratched the surface of what’s possible, you might want to dig deeper and get more information on how you can use your existing data more efficiently. You can find more in-depth information about the implementation of data-driven projects in our white paper – including helpful check lists and tips! Read it for free here: https://www.bosch-connected-industry.com/de/en/news/white-papers/white-paper-in-4-steps-to-a-data-driven-project

Make sure to also check out the recording of our web seminar: our expert Tomasz Jacewski guides you through our four-step plan using a real-life example for illustration: https://media.video.bosch.com/media/0_qns7mzql?sap-outbound-id=F76D91B2C5627118ED294225BCE7AB2927FA3467