New White paper on data sharing publis­hed

IDS stan­dard recom­men­ded by the World Eco­no­mic Forum

When it comes to a secu­re and sov­er­eign data manage­ment bet­ween com­pa­nies, IDS is an indis­pensable stan­dard. This is one of the fin­dings the World Eco­no­mic Forum pre­sents in its white paper “Share to Gain: Unlo­cking Data Value in Manu­fac­tu­ring”.

The fac­to­ry of the future runs on data. As manu­fac­tu­rers incre­a­singly use digi­tal tech­no­lo­gies to enhan­ce their pro­duc­tion and sup­ply chains, they need to effec­tively app­ly and mana­ge their data. Until now, this has most­ly been done wit­hin a com­pa­ny. But to unlock addi­tio­nal value, data must be shared across com­pa­nies. The new white paper “Share to Gain: Unlo­cking Data Value in Manu­fac­tu­ring” by the World Eco­no­mic Forum inves­ti­ga­tes the app­li­ca­ti­on domains that can bene­fit from data sharing across com­pa­nies. The WEF recom­mends four refe­rence archi­tec­tures for sharing data in manu­fac­tu­ring – and IDS is one of them.

IDS stan­dard sol­ves mar­ket obsta­cle

Accord­ing to the WEF, the total value that com­pa­nies can crea­te in five key are­as of data sharing, such as enhan­cing asset opti­miz­a­ti­on or tracking pro­ducts along the value chain, is esti­ma­ted to be more than $100 bil­li­on. But the major bar­ri­ers to data sharing in indus­try are the lack of inter­ope­ra­bi­li­ty and the fear of unin­ten­tio­nal­ly giving away sen­si­ti­ve data about the busi­ness or losing a com­pe­ti­ti­ve advan­ta­ge.

The IDS stan­dard sol­ves the­se obsta­cles. It gua­ran­tees data secu­ri­ty and data pro­tec­tion for all par­ties invol­ved, estab­lis­hes mutu­al trust among them, ensu­res a level play­ing field by means of a joint­ly deve­lo­ped and com­mon­ly accep­ted design, and enfor­ces data sov­er­eig­n­ty for data owners. It enab­les tra­ding data based on ethi­cal princi­ples and com­mon Euro­pean values.

The IDS stan­dard ther­eby con­sti­tu­tes the basis for deve­lo­ping and offe­ring smart ser­vices and for estab­li­shing inno­va­ti­ve busi­ness pro­ces­ses. This is the key to over­co­me mar­ket obsta­cles, not only to the World Eco­no­mic Forum but also for manu­fac­tu­rers that want to unlock addi­tio­nal value from data sharing.

For the White Paper "Share to Gain":