“Data Sharing Masters”.pdf

Data sharing ecosystems allow organizations to share data and insights to create new value, with potential financial benefits reaching 9% of annual revenue. Organizations engaging in data ecosystems have improved customer satisfaction by 15%, productivity by 14%, and reduced costs by 11%. Data sharing can deliver significant financial benefits, including new revenue streams, cost savings, and productivity improvements. Organizations using external data exhibit superior financial performance, with up to 14x higher fixed asset turnover and 2x higher market capitalization. Nearly half of organizations plan to launch new data ecosystem initiatives, with 25% investing upwards of $50m in the next 2-3 years. Data ecosystems cut across sectors, data domains, and value chains, with common use cases including tracking advertising efficiency, sharing research and development data, and sharing product consumption data. Despite commitment to data ecosystems, their full potential is still untapped, with only 14% of organizations engaged in collaborative models with extensive data sharing. Following a clear data sharing roadmap can deliver a sustained advantage, involving formulating a strategy, making key design decisions, implementing pilots, and sustaining the advantage by scaling up use cases and addressing privacy and regulatory requirements.