Data is more than oil.
Data is the marketplace, the good that changes hards and the currency used to pay.
Data is the resource that platform business use to bring people together. Value is what keeps them coming back. We help platform businesses understand the potential of their data so they can open up new value for their communities.
MadeWithData unlocks the power of platform data
We help you develop a strategy that aligns the capabilities of your data with both sides of your market.
Data sharing platforms are not static; they evolve as participants interact, share data, and derive insights. The operational dynamics of these platforms are characterised by a continuous cycle of data development, community organisation, and value allocation. This cycle ensures that data is not only collected and stored but also enriched and applied in ways that create tangible business value.
The Three Pillars of Data Sharing Platforms
- A Community of Stakeholders: Businesses, suppliers, customers, and even competitors can come together on a data sharing platform with shared goals or interests. This community aspect is vital, as it amplifies the value that can be derived from shared data through collective wisdom and diverse perspectives.
- An Enabling System: Technology serves as the backbone of these platforms, providing the infrastructure for data collection, storage, and analysis. This system not only supports the technical aspects of data management but also governs the platform’s rules, ensuring data integrity and facilitating trust among participants.
- Data at the Core: The true asset of any data sharing platform is the data itself. This includes not just the raw data collected from various sources but also the insights and knowledge generated through analysis and collaboration. The data becomes a tool for strategic decision-making, offering a competitive edge to those who can harness it effectively.
- Data Development: Transforming raw data into actionable insights through analysis and interpretation. This process is essential for making data relevant and useful for decision-making.
- Community Organisation: Aligning the interests and activities of platform participants to ensure that data sharing leads to mutual benefits. Effective community management is crucial for maintaining engagement and fostering a collaborative environment.
- Value Allocation: Ensuring that the benefits derived from the platform are distributed fairly among participants. This includes recognising contributions, sharing insights, and providing equitable access to the generated value.