Written by GoodData Author |
The Sharing Economy is upon us and it’s growing, thanks to popular digital tools that enable us to trust our fellow humans. As WIRED so aptly phrased it, we are entering a new era of internet-enabled intimacy, where we willingly entrust strangers with our most valuable possessions—renting them spare rooms, offering them rides to the airport, leaving our pets with them when we leave town. It’s a cultural change made possible by new social bonds being formed online through connectivity and transparency.
Lately however, there’s been a lot of talk about how companies like Uber and Airbnb—the very companies that collect the most data on us to help us share—don’t want to release that data out of fear of empowering their competitors. “Ironically enough,” says WIRED’s executive editor Jason Tanz, “When it comes to data, the most successful sharing-economy companies aren’t so great at sharing.”
It turns out cloud-based business intelligence could change all that. According to a new publication from GigaOm Research, known for its analyses of emerging technologies and the opportunities they create: a new era of business intelligence is looming, with new ways that businesses can cooperate with each other to create mutual advantage by sharing access to insight gleaned from collaborative data.
Coopetition Leads to Crowd-Sourced Intelligence
“When companies that would normally be at each other’s throats, suddenly start cooperating, they like to call it coopetition,” says TechCrunch. “You could call it being frenemies, but whatever you call it, these companies are coming together in seemingly greater numbers —and the customers are the beneficiaries.”
Consumers and customers don’t really care about competition; they just want products to work well together and they want to benefit from increased transparency into why one business can be trusted more than another. Since even companies who wish to compete with each other can’t get access to all the data they need on their own to meet these demands, they are increasingly looking for ways to connect through coopetition.
Thanks to the cloud and companies like GoodData that provide fully integrated, end-to-end BI environments with stringent levels of perimeter security and data safeguarding, the new field of collaborative business intelligence is emerging. With GoodData cloud-based BI, a service provider who hosts BI and reporting environments on behalf of a community of clients in a single location can act as a trusted third-party for clients willing to “franchise” their data.
Here’s how it works:
- The BI Platform-as-a-Service (PaaS) provider analyzes combined, crowd-sourced data and generates benchmark analyses and comparative performance reports.
- Each participating client receives insights that they could not otherwise access.
- And each client benefits from the services host provider’s ability to slice and dice the data accumulated in the aggregate and then share the results that are relevant to each client.
A True Sharing Community: What’s the Hold Up?
As the sharing economy spreads to new markets, many are hoping that more coopetition between data-rich companies will create what author Rachel Botsman termed in her 2012 TEDGlobal talk as a reputation-based economy. “I envision a real-time stream of who has trusted you, when, where and why,” she said. “All together in one place... in some kind of reputation dashboard that will paint a picture of your reputation capital.”
Yet companies with proprietary data are not so fast to jump on board the collaborative data bandwagon. “The trust, the data, the reputations that people are building—is hugely valuable,” says Monroe Labouisse, Airbnb’s director of customer service in a recent WIRED interview. “So I’m not sure why a company would give that up.”
The emerging collaborative data model outlined by GigaOm presents a win-win for all participants, which supports what Colin Strong managing director of the tech firm GfK UK phrased was the original intention of the sharing economy: peer-to-peer sharing of resources where everyone benefits.
With Powered by GoodData, everyone gains advantage:
- The PaaS provider benefits by selling value-added insight to clients after analyzing data derived from many sources within one, centralized environment.
- Each client in turn benefits from the visibility into reports and analyses whose scopes extend way beyond their own administrative boundaries.
- And through comparative benchmarking, laser-focused process improvements can be driven within an industry, which in time tend to benefit that industry as a whole.
The Route toward a Collaborative Data Culture
Using a cloud-based BI solution like Powered by GoodData with stringent levels of perimeter security and data safeguarding not only eliminates the underlying technology stack as a barrier to entry for exploiting advanced analytics, it essentially allows all participants to focus on the value the delivered insight provides without incurring the costs, effort, maintenance, and extended time-to-value requirements of individual on-premise BI environments.
Written by GoodData Author |