What Managers Need to Know About Data Exchanges
The era of big-data silos is fading. Shared data is the future.
The idea that many businesses rely heavily on data to produce or market goods and services is not new.1 Indeed, even in 2018, four of the six top companies in market valuation — Amazon, Alphabet, Facebook, and Alibaba2 — based their business models on the use of data to optimize advertising. However, data differs greatly from traditional factors of production, such as capital and labor. For instance, to achieve scale, companies need data about large numbers of customers — especially when algorithms are used in advertising and other revenue-generating models. ...
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