Many organizations inhibit access to data, preserving data silos and discouraging data sharing. This unnecessarily undermines efforts to maximize business and social value from data and analytics — at a time when COVID-19 is driving demand for data and analytics to unprecedented levels. The traditional “don’t share data unless” mindset has outlived its original purpose.
Read more: How to Achieve Smart Data Sharing
This default must be reversed to an approach of “must share data unless.” By recasting data sharing as a business necessity, data and analytics leaders will have access to the right data at the right time, enabling more robust data and analytics strategies that deliver business benefit and digital transformation.
While it’s not easy to change the status quo, data and analytics leaders must ask themselves what two areas to prioritize now to foster a data sharing mindset. The answer: Establishing trust-based mechanisms and preparing a data-sharing environment.
Establish trust-based mechanisms
If you do not introduce trust throughout your data-sharing process, you cannot achieve business value from the data you collect. Gartner predicts that through 2023, organizations that can instill digital trust will be able to participate in 50% more ecosystems, expanding revenue-generation opportunities.
Develop trust-based mechanisms that establish high levels of trust in the data source and separately in the trustworthiness of the data. This allows you to align appropriate data use with your business goals, both within and outside your organization.
It’s important to trust the quality of the data you collect, use and share to match your business context and requirements. Separately, organizations must trust their data sources so that they can rely on (and pass on to others) appropriate and enforceable rights to use, reuse, share and reshare data.