Benefit from the Shareconomy & Reduce IT Costs

More for less: Calculate Now Your Company’s Potential Cost Reduction

The collaborative approach of our Data Management Services brings significant direct benefits. As can be seen in the calculation example, the CDQ Data Sharing approach provides companies with better Data Quality at lower costs. It is based on the "First Time Right" effect in data creation and the "Zero Maintenance" effect in data maintenance. In addition to the cost reduction as a direct benefit, companies also profit from the indirect advantages: The higher data quality in business processes improves process and decision quality and minimizes risks.

Our data management calculator helps you to quickly and easily determine the cost saving potential of your company in data management when using our services.

Data creation costs
Data maintenance costs
Total cost reduction

Savings generated by the First Time Right effect
Savings generated by the Zero Maintenance effect
Total cost reduction per year

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In the current article Data Sharing - the best way to better data, our expert Dr. Kai Hüner explains the direct and indirect benefits of the Sharing Economy approach in data management.

Data Sharing Business Case Calculator

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How did we calculate this numbers?

The calculations are based on a professional article on "Data Sharing in Business Ecosystems", which will be published in a renowned business journal at the end of the current year. Authors of the article are Prof. Dr. Christine Legner (Academic Director of the Competence Center Corporate Data Quality (CC CDQ) and Professor for Business Informatics at the Faculty of Economics of the University of Lausanne in Switzerland) together with Dr. Kai Hüner (Chief Technology Officer of CDQ AG), Dr. Simon Schlosser (Head of Product of CDQ AG) and Dr. Dimitrios Gizanis (Chief Executive Officer of CDQ AG).

In this article the authors discuss how the principles of the Sharing Economy can be applied to data and show the direct and indirect benefits of data sharing: The collaborative management of data reduces the data life cycle costs, i.e. the effort for data creation and maintenance as well as the costs of the quality assurance infrastructure. The improved data quality has positive, indirect benefits on all areas of the company that work with business partners, i.e., primarily purchasing, marketing, and sales.

In connection with direct benefits, the authors speak of the following savings effects: "first time right", "zero maintenance" and "IT pooling".

They have illustrated these using a sample calculation with empirical values. These are based on globally active companies that store large amounts of business partner data in their operational systems and standardize them globally. For their calculation, the authors assume approximately 190,000 data records, divided into 60,000 customer and 130,000 supplier data records. The authors use an overlap of 43 % between own data records and the data pool because, from experience, this is often between 20-60%. The authors refer to 3 minutes that are needed on average to maintain or create data (including research time) for each data field in the traditional way, and they calculate with 0,5 minutes using CDQ services.

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Whether data quality analytics, address validation, deduplication or bank account verification: Our innovative data management services help you to enhance the quality of your vendor and customer master data. Data Management Services

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