Data ecosystems help organisations use the data they amass. Can they also help them gain competitive advantage, support the creation of innovative, data-driven products and services, and benefit society? The latest Capgemini Research Institute report, “Data-sharing masters: How smart organizations use data ecosystems to gain an unbeatable competitive edge”, delves into this question.
The authors of the report found that data ecosystems improve customer satisfaction, provide new revenues, boost productivity, and help reduce costs. For an organisation of $10 billion in revenue for example, data ecosystems could help generate 2–9% of annual revenue as cumulative benefits over the next five years. This advantage is even more pronounced in collaborative data ecosystems.
To truly leverage data sharing, organisations need a strong data ecosystem strategy, and incorporate this in their decision-making as early as possible. When privacy, ethics, trust, and regulation are proactively addressed, ethics, trust, lasting benefits will follow.
Curious to learn more? Discover the full report.