ADAPT and Collibra partner to develop data valuation systems
ADAPT, an SFI research centre, is partnering with Collibra, a data governance and catalogue software company, to better estimate and monitor how business’ value data.
The ADAPT led OtimusChain initiative will spur new technology to enable company leaders to identify valuable data in their organisations instead of low value risk laden data, thus putting more focus on worthwhile operations.
Adapt will lead the research for Horizon 2020 Marie Skłodowska-Curie under the Edge programme. Dr Judie Attard, research fellow in the school of computer science and statistics from TCD, will conduct the project. It will be supervised by Rob Brennan, assistant professor of computing at DCU. Investments come from the European Commission, Collibra and SFI.
Today, data is a key input for growth and helping enterprises to maintain a competitive edge. Yet, businesses often collate all possible data, without a significant understanding of how it adds to their value creation process. This not only wastes resources, creates technical challenges and conflicts with GDPR principles, but it clouds decision making where it should be clarifying it.
As such, the main goal of OptimusChains is to develop methods and tools to aid organisations in pinpointing their most valuable data, which should then fuel savvy decision making. This focus on optimal data distribution and streamlining data-driven decision-making has laid the groundwork for future generation data governance systems.
Brennan, said, “OptimusChain is an exciting collaboration between computer scientists in Ireland and innovative European companies that are leading the world in data governance and helping us understand all the data that now flows around us.”
Speaking about the collaboration, Dr Attard “…considers the research in OptimusChain to have an excellent potential to enable the improved efficiency and efficacy of data value chains in any enterprise that uses data”.
The platform will be an important time for testing the technology. Collibra customers will participate in trials and researchers from their multiple locations will collaborate with the team over the two-year study.
Dr Pieter De Leenheer, Collibra co-founder and chief science officer added: “We’re excited to partner with the ADAPT Centre, a worldwide leader in data valuation research. Data valuation is an essential component in establishing efficient data exchanges, and helps to define a company’s data equity, which is crucial for companies to understand how they invest to support and utilise their data.”