Everyone’s talking how data is the new source of value…What does the data economy mean to you?
I see it evolving to a marketplace where anyone can query data sets to accomplish a task. Think about the data trapped inside Target, for example, and all the retail behavior nuggets in there. Monetize that, lots of interested parties
#dataEconomy means leveraging information on behaviors to tightly "target" pricing, offerings, operations
To me it's about defining the narrative around the business of using data as a competitive advantage. C-level execs are transforming their business with data driven process/application/infrastructure re-engineering
Pete Johnson #dataeconomy Not just competitive advantage, but as a revenue stream. Lots of interesting data is trapped inside IT departments that can be cleansed for external use
trying to help clients control data growth while controlling costs.
Dave Vellante So in a way I think the conversation is shifting from data as a cost to data as value - that to me is what the data economy is all about
the Data Economy is the emerging economy in which organizations succeed or fail based in large part on their ability to leverage data and analytics to improve business outcomes http://wikibon.org/wiki/v/The_Data_Economy_Manifesto
at #df13 the notion of technology is driving changes on how companies market to customer with technology as the enable..same at #IBMIOD for #socialbusiness #innovation
its transformative from cutting internal cost and driving efficiencies, to leveraging it to drive top line revenue, and generating new revenue opportunities .
Data is an asset that has monetary value to organizations. Not leveraging data is the same thing as throwing away money.
johnlmyers44 more like locking $$ in a box and not using it...
johnlmyers44 however, if data has a half life, then yes not using data is throwing it away... passively
Data economy means using data to think better, react faster, provide better products and services to clients
its about using data to improve efficiencies, create new ways of doing business and becoming more customer-centric
data is a source of value if customers have the tools to get the right insights from that data. Data economy means to get data insights in an efficient, cost effective way
Karla Magana Renoud
it opens the door to all you can do with the data that will maximize the value of that data for your company. You can gain competitive advantage, understand your customers better, proactively resolve an issue, etc. The sky is the limit!