Data, now what? – Options for Organizations to Create Value from Data
Note: This blog post contains excerpts from the article “ Data Value Creation Matrix — Options for Organizations to Create Value from Data”. Available at: […]
Continue reading »Note: This blog post contains excerpts from the article “ Data Value Creation Matrix — Options for Organizations to Create Value from Data”. Available at: […]
Continue reading »For a long time, everyone was talking about data. “The world’s most valuable resource is no longer oil, but data” (The Economist, 2017) was the ubiquitous mantra. However, advances in the field of artificial intelligence (AI) are currently dominating the media, driven in particular by generative AI such as ChatGPT, DALL-E and the like, which can create new content such as text, images or speech. These generated data instances are in turn created with the help of technology on the basis of enormous data sets (Touati, 2024). Accordingly, it is becoming increasingly relevant for companies today and in the future to deal with the topic of “data” as the basis for value-adding activities. The Competence Center (CC) Ecosystems of the Business Engineering Institute St.Gallen develops solutions for relevant practical problems and addresses, among other things, the use of data as a key role for business success in dynamic environments. This blog post provides an introduction to the research in the field of data value creation for companies at the CC ecosystems.
Continue reading »To harness the potential of data to better target societal and economic needs and foster innovation, the Swiss federal administration is promoting the development and operation of trusted data spaces for its citizens. In order to identify the needs of the individuals of Switzerland in terms of data spaces and thus to involve the population in the process of developing trusted data spaces, the Business Engineering Institute St. Gallen has developed a study in collaboration with the University of Lausanne. The following is a brief summary of the results of the study.
Continue reading »Today, companies and individuals alike generate, process and use an immense amount of data, which, according to estimates, will continue to grow worldwide from 64.2 zettabytes in 2020 to an estimated 180 zettabytes in 2025. However, then as now, the global data economy is dominated by individual companies, the so-called BigTechs such as Alphabet, Meta, Amazon and Microsoft. One way to realize data exchange and use apart from the monopolistic BigTechs is based on the concept of trusted data spaces. But what exactly are data spaces and how do they work? This blog post addresses this question and shows a possible target picture for data spaces in Switzerland from the Business Engineering Institute St. Gallen.
Continue reading »The first part of this blog series introduced the concept of symmetric cryptography, which can en-sure the confidentiality of data to be exchanged. Symmetric cryptography is based on the funda-mental assumption that the key used, which is to be kept secret, must be transmitted between the communication partners via a secure channel, since otherwise third parties with knowledge of the key can access the ciphertext. Accordingly, with the help of symmetric cryptography, the problem of secret message transmission is reduced to secret key transmission only. To get around this prob-lem, this second part of the blog series presents an introduction to the concept of asymmetric cryp-tography.
Continue reading »As the volume of data exchanged increases, aspects for ensuring data security such as ensuring integrity, availability and also confidentiality are becoming increasingly important. Such require-ments can be provided by cryptographic methods. In this blog post, the basics of cryptography are presented and explained using the concept of symmetric cryptography.
Continue reading »Cryptocurrencies are once again on everyone’s lips after one of the largest trading platforms for cryptocurrencies, FTX.com, with a market valuation of $32 billion, filed for bankruptcy on November 11, 2022. The cause was a liquidity shortage at the Bahamas-based crypto exchange founded by Sam Bankman-Fried as a result of a bank run. In this blog post, we have a deeper look at the developments leading up to the crypto exchange’s insolvency.
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