Let's see the increasingly attractive arguments of data collaboration.

Data collaboration offers companies a competitive edge ??

As a well-known stranger said at the Snowflake Summit 2022, “If you want to go fast, go alone, but if you want to go far, go together.” But if we had to choose between the biggest benefits of data collaboration, here would be our Top 3:

?? Identify all relevant data - by bringing those closest to the data together to identify the data sources best suited to meet business objectives, recognizing the critical role that domain-level experts play ?? 68% of enterprise data is never used according to research by Seagate and International Data Corporation?

?? Find profitable synergies - by forming data-sharing partnerships between organizations that own mutually beneficial data sets ?? organizations that share data externally with partners generate 3 times more measurable economic benefits than their counterparts that do not, according to Gartner + organizations that collect proprietary data can monetize this data

?? Accelerate time to insight - by bringing together relevant knowledge and perspectives ?? because data collaboration involves people working together

Data collaboration has also changed over the few last years ??

? Data Sharing Technology takes Data Collaboration to new levels of speed and quality (Snowflake)

Data collaboration has advanced significantly with the introduction of technology that allows near real-time data sharing without requiring data copying. This approach relies on a single, provider-governed copy of the data, accessible directly by consumers. The innovation is powered by micro-partitioned, hybrid architectures that combine shared-nothing and shared-disk principles. By separating storage from compute, this method ensures that the data provider's compute resources remain independent from those of the data consumers, enhancing efficiency and scalability.

?? Usage of private data sharing exchanges: this is changing the game?

The elimination of friction in vertical data-led transformations through data collaboration has revolutionized how businesses share and collaborate on data at near real-time speeds. This transformation empowers organizations to operate and make decisions at the pace their operations demand. Additionally, it offers precise control over which data objects are shared and the security surrounding them, ensuring robust governance even at petabyte scale. By removing the need to copy data, data collaboration enables seamless, secure, and efficient data sharing and integration.

?? And it will continue to as by 2025, IDC says worldwide data will grow to 175 zettabytes