In the past few years, our economy has greatly shifted towards a Sharing economy.It is now common to share our flats, cars or bicycles.
These companies took a then unused resource, an extra room and turned it into a revenue-generating asset. However, they did not only make use of our physical resources but also of information related to the product, that would have otherwise continued to be gathered by Google and Facebook, increasing their everlasting monopoly regime.
Location, ratings, brand data all started flowing into dogvacay, Airbnb, getaround etc. Which is really essential for a healthy economy.
But can we take such a successful model and apply it to Business Data? 🤔
By enabling B2B Data Sharing and in general the Data Sharing Economy we can create a system where companies can share data with partners, manufacturers, suppliers and other third parties.
Imagine an environment in which data flows through companies to sell you a sandwich.
Sourcing ➡️ packaging ➡️ delivery ➡️ consumption.
Through such an open exchange we can improve every step as all the parties involved in selling you a sandwich will have access to the big picture.
We can improve almost every sector, aviation, healthcare, autonomous cars.
The future aim is for services to be able to communicate. From Elon Musk's Rocket 🚀 to your dinner reservation at 8, improving customer experience, conversion in a smooth flow of data between these parties.
However, we are facing a few issues while trying to achieve a Data Sharing Economy.
Even though in the past few years, there has been a lot of noise around big data, thick data, machine learning etc. people are still not aware how their data can be used and as a consequence, they don't understand their value. One man's trash is another man's treasure fits like a glove in this situation.
Entreprises are reluctant to sell their data. Especially in Germany, data are hoarded, stored and rarely used, which is why "Data-Driven Approach" has recently received a big hype.
One main point being raised is that competition might get a hold of their data, or the selling price cannot be competitive enough and of course the effort to make them available is too high as there is no one platform to support data exchange in a seamless approach.
But what can we do to help drive the economy and help it grow?
- First, we need to educate people.
- Help them understand the trade value of their data.
- Then we need to provide them with a platform in which they can explore and blossom their data exchange aspirations.
- Lastly, we need to make the exchange less cumbersome. Moving files, through different protocols, with no standards increases the effort and thus scares people away.
That is why we are introducing DataCircle ⭐
DataCircle is a one-stop data exchange network, which focuses on taking all the pain of data exchange away from the users.
The data remain on your premise.
You decide your purchase price.
We take care of the visibility/discoverability.
Any manipulation of the data can happen on the platform.
Upload, share, done.
Stay tuned for a more in-depth description of how all of this works.
If you are in BERLIN feel free to drop by our meetup on Nov 30th hosted by Penta.
If you are interested further you can read B2B Data Sharing Economy - the next innovation wave by Jochen Adler and Nico Litzel