A case study: the savings potential thanks to FAIR data in one Materials Science PhD project

TL;DR

Implementing FAIR data principles in a Materials Science PhD project can lead to significant annual cost savings, demonstrating the economic benefits of data sharing and reuse in engineering research.

Contribution

This case study quantifies the monetary savings from applying FAIR data practices in a specific engineering research project, highlighting their economic value.

Findings

Estimated annual savings of 2,600 Euros from FAIR data implementation

FAIR data practices can optimize resource allocation in engineering projects

Implementing FAIR principles promotes cost-effective innovation

Abstract

The FAIR (Findable, Accessible, Interoperable, and Reusable) data principles have gained significant attention as a means to enhance data sharing, collaboration, and reuse across various domains. Here, we explore the potential benefits of implementing FAIR data practices within engineering projects, with a monetary focus in the German context, but by considering aspects which are relatively universal. By examining the FAIR-data aspect of a Materials Science and Engineering PhD project, it becomes evident that substantial cost savings can be achieved. The estimated savings are 2,600 Euros per year from the PhD project considered. This study underscores the importance of implementing FAIR data practices in engineering projects and highlights some significant economic benefits that can be derived from such initiatives. By embracing FAIR principles, organizations in the engineering sector can unlock the full potential of their data, optimize resource allocation, and drive innovation in a cost-effective manner.