Data sharing is an "essential business capability" - captured specifically to discover, use and share data, increasing alignment of D&A strategies with enterprise goals - and a "business necessity" that is essential to digital transformation (see Data and Analytics Essentials: Data Sharing) Organizations that share data externally with their partners generate three times more measurable economic benefit than their counterparts that do not, while D&A teams are two times more likely to generate measurable benefits from sharing data externally.
By 2024, most organizations will attempt trust-based data sharing programs, but only 15% will succeed and outperform their peers on most business metrics (see Predicts 2022: Data and Analytics Strategies to Govern, Scale and Transform Digital Business).
Source: Gartner Predicts 2022: Data and Analytics Strategies Build Trust and Accelerate Decision Making, Jorgen Heizenberg, Lydia Clougherty Jones, Ted Friedman, Andrew White, Saul Judah, Gareth Herschel, Rita Sallam, Ehtisham Zaidi, Svetlana Sicular, Published 2 December 2021.
Well, to build a strong data strategy starts with the process of exploiting digital technologies and supporting capabilities that create a robust, new digital business model. In crafting a platform to achieve a Data Strategy, organisations must rely on and exploit intelligent decision making, for which data and analytics is vital.
To guarantee that you are building a solid data strategy, A strong data and analytics strategy is made up of the data-driven vision, value propositions and stakeholder outcomes. Once your vision is established, you can move on to the stakeholder outcomes and value propositions that will combine with the vision to establish your internal and external data ecosystems by applying trustful Metrix.
PiLog helps to unleash the value locked in data with a comprehensive data strategy. Our Value Propositions can empower business leaders with truth and certainty from their data, through a solid, well-rounded data and analytics strategy.
Established in 1996, PiLog Group is a global group of independent companies, specializing in Quality Data, Digital Governance & Analytical solutions supporting multiple master data domains in a variety of industries all over the globe. The PiLog solutions are state of the art, focused on creating a common business language and managing the rules for the creation of high quality, multilingual terminology using Machine Learning, Artificial Intelligence technologies & human-augmented algorithms descriptions for our customers who are eager to transform their businesses digitally. PiLog provides exclusive technical dictionaries, industrial libraries with content repositories that is the culmination of research, development, and execution over the past twenty years. All our methodologies, processes, solutions are compliant with international standards. For more information about PiLog visit https://www.piloggroup.com/