What is the significance of data sharing in enterprises and how does it assist them in achieving their goals?

2.2k views57 Upvotes9 Comments

Marketing Analyst in Healthcare and Biotech, 51 - 200 employees
Data sharing in businesses is essential in order to ensure timely and effective decisions. By allowing different parts of the organization to access and use the same information, teams can avoid duplication of efforts and draw new conclusions from the data. Moreover, it increases collaboration and communication amongst employees, leading to greater efficiency with resources that can potentially have a positive impact on their financial performance. For instance, leveraging customer purchase trends for refining marketing approaches or operational data for cost reduction are just some of the ways in which data sharing can bring tangible benefits.
IT Manager in Software, 11 - 50 employees
data sharing plays a vital role in ensuring effective decision-making, collaboration, and financial performance in organizations. By breaking down silos and enabling teams to work together, businesses can derive greater value from their data, leading to improved outcomes and a more agile and responsive organization.
Store Manager in Retail, 10,001+ employees
It helps them make

1) better decisions,
2)work together more efficiently,
3)Give customers a better experience, 4)Stay ahead of the competition.
Senior Data Scientist in Miscellaneous, 1,001 - 5,000 employees
It's an indispensable way to support continuous improvement by communicating the way of usage and the performance of items in the fields.
Store Manager in Retail, 10,001+ employees
Significance of data sharing in enterprises:



Improved decision-making

Cost savings.
Manager, Interdivisional Products and Systems in Manufacturing, 1,001 - 5,000 employees
Data sharing helps us to be better communicators.  Team members are able to perform their rolls more effectively, with greater accuracy, and on a more timely basis when the information about a program or project is more broadly shared.  Team members are also more likely to buy-in to their roles when they understand the scope of a program.  Data sharing also helps us to make better decisions about resource allocations, and helps us to identify impactful areas of improvement.
1 Reply
HR Manager in Travel and Hospitality, 51 - 200 employees

Absolutely correct

IT Manager in Education, 501 - 1,000 employees
No matter the industry you are in, data sharing is crucial for success. Take education management for example, should a family relocate, thus switching schools, if the IT department is not notified, their online presence will remain which might cause chaos, especially when working/teaching online. So even at the lowest level, data sharing is one of the biggest assets any type of corporation has.
Co-founder/Practicum Director in Travel and Hospitality, 2 - 10 employees
Sharing of data will give a much clearer picture of customers or entity that we are analysing on. With that in mind, then we can be more targeted.

In other words, the more signals we can pick up, the higher the probability that the decision we make is the right one.

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