The Water Corporation1 collect an enormous amount of data on its assets and store this data in their business information systems. Decisions need to be about data quality (timeliness, accuracy etc.) and for this some estimate of ‘value’ is required. This applies to individual data streams and, increasingly to data products2. Here is an example of work in this area https://www.anmut.co.uk/resources/ . This is a rapidly growing area of interest inside corporations as this data is the foundation of data-driven decision making, analytics and for building AI models.
We are looking for a student to 1) map this rapidly changing space and 2) select and test different data valuation methodologies as part of an honours or Masters project under the CEED framework. The student will be supported by managers from Information Governance, Data and Information Management and Asset Management as well as academics from the Business School and Engineering.
To be successful in this project the student will need to have had a role inside an organisation dealing with data and information management and demonstrated stakeholder and project management. An ability to build valuation models and do process mapping will be an advantage.
Example Definition: https://www.datamesh-manager.com/learn/what-is-a-data-product
PROJECT NUMBER: 24/015
PROJECT TITLE: Data Products – how to estimate their business value
CLIENT: Water Corporation WA
DISCIPLINE: Engineering/Business Double Degree, or Economics / Information Management. Strong performance in ECON3371 or GENG5507 will also be an advantage.
SUPERVISOR: Prof. Melinda Hodkiewicz
PROJECT TYPE: 3/4 – No site work with the client / 4 weeks credit towards Professional Practicum hours
DEADLINE: Monday 19th of February, 2024 via https://ceed.wa.edu.au/prospective-scholars/apply-now/