INCREASE YOUR CUSTOMER VALUE BY USING SHARED DATA

It is difficult for a business to solve common critical challenges for their Customers. That is why it is imperative to find innovative ways to expand and establish long-term Ecosystems in the value proposition to your Customers. 

We know that all aspects of an Ecosystem, with the focus on delivering a strong Partnership through a customer centric approach, delivers results. We have seen, working with innovative and creative Partners, which critical factors have the largest impact on how Partnerships add customer value within the Ecosystem.

There are three critical success factors that drive the success of shared data to improve customer value;

1. A digitally created Ecosystems using fully open API’s allow participants to share and monetize data from relevant sources for the Customer, as an example sustainability information or other data that leads to efficiency improvements and cost reductions.
2. To maintain and develop an Ecosystem, each Partner has to develop key relationships with each business and bring new expertise to the ecosystem delivering improvements to existing solutions. Once this is achieved all the businesses within the Ecosystem benefit from the total commercial innovation, and the outcome is ‘Whole is greater than the sum of the Parts’ the fundamental concept of an Ecosystem.
3. With a network of different Partners all contributing to this thinking will quickly increase the total of the value created. These initiatives have over time the potential to become magnets in attracting new End User Businesses, Companies and Participants.

To sum up - shared data within an Ecosystems is the engine of growth, and can quickly unlock significant industry value creation and strengthen your Brand equity.

By Per Chr Andersen & Craig Allan