Oct 6th, 2017 - 1 min read

Connected textiles and data monetization

Data and connected textiles!

On September 26, 2017, Dawex's co-founder Fabrice Tocco gave a presentation at a conference on connected textiles in Lille, at CETI (European Center for Innovative Textiles). The event was organized by UP-tex, the Hauts de France region's competitiveness cluster that unites companies and research organizations in the textile sector.

The issue of connected fabrics and data has now emerged for sector stakeholders. It offers an opportunity to revitalize an industry that needs to renew itself.

Thanks to the use of data, the textile industry can create totally innovative customer experiences and optimize industrial processes by enriching its own information with data from external sources. That data may be acquired from within a particular ecosystem or from third-party companies, which may generate additional revenue by sharing or monetizing their data directly.

The change is already happening today, with companies in the textile industry starting to become aware of the potential value their data holds.

To help companies think about this topic, Fabrice Tocco led a conference-workshop entitled: "Business Models or how to monetize Data."

It was an opportunity to reflect globally about issues in the connected world, examine various management models, and above all, take on questions related to monetizing data generated by new-generation connected textiles.