Add Data into a Business Cooperation
You have set up a great ecosystem. It all feels good and your customers love it. Now it is time to leverage on all the good data that flows from all involved in the ecosystem. Time for Data Business! How do you manage Data in a Business Cooperation? What do you need to think about?
It is a good step to return to the baseline and goals you had when you entered into the ecosystem. What should the ecosystem achieve and what do you want to achieve? Based upon these goals you should have a common ground for the collaboration so you can add the Data Collaboration. In addition there should be an understanding of the Business Value Chains involved. That is who will bring what value.
Overall you need to have a plan for how you secure your Commercial interests as well recognize other interests as well.
Let us look at some key steps.
What is your Core?
Defining and understanding the core areas of your business value add is crucial in a business cooperation. The core area is the part where you provide key value add for your customers and where you compete with others. It is in the Core it is vital to keep track on and to protect the commercial values of innovation and data. Non-core areas are from your perspective more suitable for cooperation and mixed inputs from the ecosystem.
Map the intended Data Flows and values
Map together with your partners the intended Data Flows so you know who brings what data and note the value in each point. It is important to note what data is generated by the customers and users and the ownership of this data. Can you can claim it yours? Any integrity or trust issues? What regulations are in place that govern the use of the data?
Use a Business Architecture that secure your Commercial Sustainability
Since any cooperation is of definite time, you need to use a Business Architecture that makes it easy to phase out and phase in new partners. The use of open standards is highly recommended.
Secure the Trade Compliance you need for the Data Flows
Once you have decided upon the Business set-up for the Data cooperation and how you are going to use it in your sustainable business operation, you must secure the required Trade Compliance. This includes what your partners need to do as well as what you should stay out of.
Map your data flows so you understand who creates them and who is the owner. In addition you need to understand the value created as well as any integrity issues. You must also understand any regulation that governs your data flows.
Adding the data to your business operation requires that you have a Business Architecture that allow you to have a sustainable operation including the possibility to remove and add new partners. Finally you must secure the Trade Compliance you need together with your partners.
- How to become trusted data steward
- Credit: BCG