Predictive Tidal Data Products

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The independent consultant will be required to report on the following:-Task 1Internet based research to substantiate knowledge and information in each of the pre-identified 10 market areas and any additional found during the search.1a) Assessment of market size, growth rates and future projections.1b) Understanding of current market pricing and business models.1c) Identification of the competition in each market sector and provide brief overview of strengths & weakness of their offering compared to NOC proposed product.Outcome: Market Opportunity report, with suggestions of business models and pricing and identification of technical features of greatest importance per sector.Task 2In consultation with NOC, the consultant will identify a list of 30 companies and contacts, covering the full range of the 10 market applications areas of interest (or those we decide to focus on), specifically targeting one end user and two potential licensees in each market area. The consultant will then interview these contacts directly to understand:-2a) licensee and user-group requirements for data in terms of accessibility, frequency of access and specific data content of interest;2b) what the industry likes about current methods for obtaining this information; 2c) what the industry feels is missing from current data sets and data presentation;2d) what, if any, potential barriers to market (e.g. warranty requirements from NERC/NOC);Outcome: Licensee and End-User Requirements.Task 3Creation of a spreadsheet to provide a comparison of financial outcomes of various user numbers against different business models of payment.Outcome: Business Model comparison spreadsheetThe consultant, or consultants, would be encouraged to think laterally to identify other applications/markets but it would be required at the very least to research the markets listed in the Beneficiaries section below.How will the commissioned research inform our understanding? This market report will provide us with the optimum mix of information to judge whether further development of the Data Product is desirable, viable and achievable, and therefore worthwhile investing in. How will the research help shape the development and execution of our proposed Follow-on project work programme?This report will inform the following three key areas of:-1. Potential Applications / Markets2. Licensee and end-user requirements3. NOC's Technology and Commercialisation Plan for the Data ProductThis will inform:-1. Whether NERC/NOC continues to invest in the Data Product - Stop/Go;2. If yes, how NERC/NOC needs to deliver the Data Product, and/or support services, to meet specific licensee/end-user requirements; and3. How best NERC/NOC commercialises the Data Product to achieve Impact and licensing revenue.