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How to use data in a software development company?

Nils Löwe

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Hi forum,

I run a podcast and I interview CEOs with the question "What is digitization and how will it affect your business"? I run a software development company and we create IoT products for small and medium businesses in germany.

Today I interviewed a professor who leads an institute for world economics and he gave me a very insightful definition for digitisation. (I hope that my translation is adequate, my podcast is german).

In the past there were not so many data sources AND they were not connected. Today we can generate as much data as we want and s fast as we want AND we can transmit it as fast as we want. This change affects all industries, even if they did not realise it yet. So his suggestion for any existing business today is:

  1. Reflect how you provide value to your customers
  2. Find out how the usage of data can improve your current business
  3. Find partners to collaborate / how can you integrate into other services or integrate services yourself?
When I think of my clients this makes sense and I can think of many fancy ideas how to improve my clients businesses with data. BUT: I have no idea how I could improve my own business with data. We develop a product for our clients and get paid for that. Of course we use modern tools, agile development and all these buzzwords, but I don't have I product myself.

Any ideas? I know that many of you develop software yourself. How could you improve your software development by integrating data?
 

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