Developing a Clear Target Picture for a ‘Car Data Monetization’ Business Model Based on Lean Startup Methodology

The Challenge

The connected services division of a premium automotive OEM was looking to push forward to having a more data-driven business. However, the company had a limited understanding of data-driven business models with no dedicated team that could achieve such goals and an unclear operating model. The company also wasn’t clear on how to prioritize use cases, data sets, or third-party partners. And so it asked for our help. 

The approach

Our first port of call involved developing a “data marketplace” business model using a lean startup/canvas methodology. We identified an initial use case portfolio as well as potential external partners and selected initial marketplace partners through request for information (RFI) and request for proposal (RFP) processes. Next, we developed a design and implementation plan for an API-based data platform for the company, defining a target operating model, which included a core team for a vehicle data business. And finally, we established a detailed business case calculation, including a presentation for the top management committee. 

The result

The project was considered a success after we delivered a clear target picture for a “car data monetization”  business model, which was based on lean startup methodology. We also defined the implementation plan to establish a working business model based on API-based data platforms and a connection to the first selected data marketplaces.