Safe-DEED Data-Driven Business Canvas
Tips for use
You can fill out the Data Driven Business Canvas by yourself but it is more effective if done by an interdisciplinary team consisting of people e.g. from IT, Business Development, Sales and Finance.
Make a large print of the Data Driven Business Canvas to use in a brainstorm. Use sticky notes to easily move and change your inputs. Since the tool is also available as a pdf form (template), you can also fill it out collaboratively in e.g. a video conference.
Get inspired by the example from a Bakery Chain which is using this service. The data service was realised by the analytics company www.meteolytix.com
How to use
The Data Driven Business Canvas consists of five main sections. The data sources (which could be transferred from Safe-DEED Data Map), the needed analytics methods (e.g. regression analysis, classification or privacy-preserving methods) to process the data, the data product - representation of the service (e.g. dashboard, report etc.), the intended customer benefit and lastly the financial implications in terms of expected revenues and costs.
Basically, it does not matter in which order you fill the different columns of the canvas. In practice, however, three promising variants have been identified to develop a data service by using the canvas.
Start with Customer Benefits (Needs): In this variant, start filling out the canvas with column “Customer Benefit” by taking a close look at customer needs and added value you want to offer your customers. Try to answer the question: What added value and what advantages should the data service generate for your customers? Think about topics such as an increase of quality or customer satisfaction, cost reduction or acquisition of new customers etc.
After that work through the canvas to the right and think of ways to make the data service available to your customers. This could be e.g. a report, a dashboard or transferring data via API to the customer. Note your ideas in the column “Data Product”.
After that try to find out what analytics method you could apply to gain insights and benefits from the data. Do you want to predict something, you could use a regression analysis. Do you want to find and sort information, a cluster analysis could help. For filling out the related column “Analytics” you maybe need support from experts in data science.
Next, check out what data sources you need to create the develop the expected data service. Our tool Safe-DEED Data Map could assist you in this part. Think of internal data sources, data from your partners, from data market places or maybe you could use open data provided by governments or research institutions. List your ideas in the field “Data Sources”.
Finally, check out financial implications in terms of expected revenue types (e.g. subscription or licence fee, pay per use, etc.) and costs factors (development, hosting, maintenance etc. ). Write down your ideas in the box “Financial Implications”.
Two alternative variants:
Start with an already existing service: Starting point in this variant is the central column “Data Product” where you briefly describe the existing service. Hereafter you add your improvement ideas in the concerned columns of the canvas.
Start with data: Start filling out the canvas from left to right.
The development of this tool is based on a publication of Fruhwirth, M. et al. (2020) “The Data Product Canvas. A Visual Collaborative Tool for Designing Data-Driven Business Models.” The present further development of the canvas was supported by the European Union’s Horizon 2020 project www.safe-deed.eu under grant agreement No 825225.