Data Sharing Between Organizations & Analytics as A Source of Business Innovation

The idea of passages between organizations that allow for data sharing across industry lines is very interesting but also might have some challenges.

There is a potential risk of a competitor gaining an advantage, particularly large companies that are analytical innovators such as Google, Facebook, Amazon, and Netflix. These companies have a culture of utilizing analytics to make strategic decisions, which can enable them to dominate the market.

Three levels of analytics maturity:

1. Analytical Innovators:

These companies have an analytics culture, make data-driven decisions, and rely on analytics for strategic insights and innovative ideas.

2. Analytical Practitioners:

Analytical Practitioners have adequate access to data and are working to become more data-driven. They use analytics primarily to effect operational improvements.

3. Analytical Challenged:

The least advanced companies still rely more on management intuition than data for decision-making. They struggle with data access and quality and lack data management skills.