Data ecosystems, what are they and what can they do?

09.08.2022

A data ecosystem, a relatively new term that you might have read somewhere, claims to help solve data-related issues. But what is a data ecosystem and what can it exactly solve? There are multiple definitions for the word data ecosystem if you look it up. When searching through several sources for a definition this is what it sums up to:

“a system of people, practices, values, and technologies in a particular local environment.” 1

“ecosystems are made up of interacting components that are relatively well connected and have substantial interdependencies. The specific components vary from one ecosystem to another.” 2

“a platform that combines data from many providers and creates value through the use of the processed data.” 3

In other words, data ecosystems are environments in which two or more actors, public, private, or both, come together to exchange data or services in different ways. So, how does a data ecosystem work and what problems can it solve? Data ecosystems help with combining resources and allowing data to flow across different departments, which increases the ability to gain insights on your data and makes working with data more efficient.

Read more about data ecosystems in this blog.

Data ecosystems, what are they and what can they do?
Bildnachweis:
fabio via Unsplash

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