DATA SHARING IS CARING
Participating, collaborating, or even leading in data ecosystems gets more value out of data – creating new connected products, services, and experiences, boosting enterprise performance, and contributing to a better society
What’s not to like: realizing the true value of data by sharing and leveraging it in all sorts of internal and external ways? A data ecosystem thrives on the art of shared data, and a collaborative – or sometimes even “co-optetive” – culture. Done in many ways and far safer than ever before, the next generation of data cloud platforms enables trusted data collaboration without ever giving up on data privacy, security, and ownership. Data evolves from a static, anxiously guarded asset to a highly valued product, continuously expanding an organization’s business scope. So, press that forward button: share the message!
Anne-Laure Thieullent Expert in Residence
- Collaborative data ecosystems see different organizations sharing data under relevant applicable regulations to create new value for all participants. These ecosystems can occur within one organization as well, all with similar benefits.
- According to the Capgemini Research Institute, 84% of organizations will launch a new data ecosystem within the next three years; telecom, banking, and consumer goods are the sectors with most ambitions.
- Collaborative data ecosystems can take different forms: data brokerages providing aggregate data to its clients, reciprocal data sharing among supply chain partners, sharing of insights across sector boundaries among many others.
- Key decisions need to be made on what data can be shared (sourced or supplied), who the trusted ecosystem partners will be, what role an organization wants to play, and which collaboration model and business model will work best.
- Collaborative data ecosystems thrive on foundational capabilities – such as privacy, ethics, ownership, trust, compliance, and accessibility. Data sharing platforms, data collaboration platforms, data exchanges, and differential privacy support this.
- The MELLODDY consortium leverages a large collection of small molecules with known biochemical or cellular activity to enable predictive models and efficiency in drug discovery – using shared decentralized data of 10 pharmaceutical companies.
- The European Open Data portal provides access to open data made available across Europe to both organizations and the general public. There are over 1.3 million datasets from 36 countries, available across all major sectors, across 82 catalogs.
- The Mayo Clinic launched the Clinical Data Analytics marketplace, providing access to anonymized patient data – including disease patterns, diagnosis, treatments provided, and care plans – to healthcare organizations and providers.
- Funded by the Gates Foundation, working with the Centre for Agriculture and Biosciences International, an open agricultural data ecosystem is being built to support the management, sharing, and governance of data across the agricultural sector.
- The Capgemini Research Institute estimates that data ecosystems have already improved customer satisfaction by 15%, improved productivity and efficiency by 14%, and reduced costs by 11% annually in the last 2–3 years.
- The research also shows that organizations using external data extensively (making use of more than seven external data sources) exhibit superior financial performance, with up to 14 times higher fixed asset turnover and two-times higher market capitalization.
- Collaborative data ecosystems are key to addressing many of the current societal challenges and organizational purposes, for example in health (as evidenced by the COVID-19 pandemic), energy consumption, agriculture, and sustainability.
- By engaging in collaborative data ecosystems, organizations are likely to find unexpected, new partners – potentially fueling new, data-powered value streams, data monetization, and even breakthrough, innovative business models.
- Data exchanges and marketplaces: AWS Data Exchange, Snowflake Data Marketplace, Dawex, Oracle Data Marketplace, Human Data Income (HUDI) Defi token-driven data monetization, 890 by Capgemini
- Data sharing platforms: Amazon Redshift Data Sharing, Microsoft Azure Data Share, Snowflake Data Sharing, Google Analytics Hub, IBM Aspera on Cloud, Oracle Blockchain Platform Cloud
- Data collaboration platforms: Harbr, Snowflake Data Cloud, Infosum Data Collaboration Platform, Alteryx Connect, Atlan Data Collaboration, Cinchy Data Collaboration, Omnisient Data Collaboration, Duality Data Collaboration
- Federated learning: IBM Federated Learning, TensorFlow Federated (TFF), Xaynet Federated Learning, Owkin for Life Science, OpenMined Private AI, NVIDIA Clara
- Differential privacy and cryptography: Microsoft Differential Privacy, LeapYear, Cosmian