In the latest in its series of exclusive Home Truths reports, the DPP cuts through the vast amounts of data generated in the course of content creation to find where the true value lies. Home Truths No.6: Could Content Data Make You Rich? reports on the findings of a DPP AT HOME event at which experienced DPP Members analysed the data value chain.
‘There has been a huge amount of hype about the supposed value of content data,’ says Mark Harrison, DPP Managing Director, and author of the report. ‘But there has been very little detail on exactly where that value is to be found. In this report we are able to shine a light on the opportunities both for efficiency and revenue that could come from making better use of data.’
The report identifies the key data sets created at each stage in the content creation journey. It then provides a ‘value map’ that indicates the data that has the potential to bring greatest business efficiency and greatest commercial revenue. Finally, an assessment is made of the cost and complexity of delivering such potential.
Two of the key insights that stand out from the work are that:
- business efficiency is to be found in the data around resources, systems, and costs: rich supply chain data offers the opportunity to industrialise many media processes
- commercial value is to be found in the full exploitation of rights, the creation of multiple versions, and the ability to search, find, and retrieve content
‘There is plenty of data that is collected but is of no real value,’ says Harrison. ‘This report is a first step towards providing the focus for the technology and business change that would release the power of the data that really matters.’
The DPP will share its plans for further work around data in its 2017 Roadmap, to be released in early December.
The Home Truths No. 6: Could Content Data Make You Rich? report is kindly sponsored by DPP Member Take 1 Transcription and is available now to Members of the DPP. If you are not a DPP Member, you can join here.