The economics of Big Data Sharing are astounding.
In our data-driven world, Big Data is a hugely valuable resource, an input into most business processes. Monetizing Big Data effectively, safely, and productively requires a new approach.
Big money will be made. Asset values will be enhanced. Monetization abounds! This is disruptive capitalism at its best. To enable our new data driven economy, secure Big Data sharing at near real time speeds and at scale is a big unmet need. Read on!
At a high-level, Big Data sharing is somewhat like ride-sharing or apartment-sharing, but 1000 times more important. Here are the basics:
- Big Data is intrinsically underutilized (read below) and often trapped in Big Data Silos.
- Importers (think “Subscribers”) require use of valuable Big Data to solve problems.
- Exporters (think “Publishers”) create and measure value enabling use but preventing misuse.
- Problems are fixed. Payment is expected.Everyone wins.
Check it out: Big Data may be the ultimate example of an underutilized asset.
- Big Supply: 2.5 Quintillion bytes of data are created daily, and the pace is accelerating.
- Big Demand: Being a data-driven organization requires data sharing to solve business problems.
- Desire to Share: You will need to use data from other organizations. Other organizations need your data, too. Full stop.
- No Mutual Exclusivity: Big Data can be utilized by many users all at once without impacting each other, unlike a car or an apartment.
- Non-Diminishing: The value of Big Data is not diminished by additional usage. In fact, the value is greatly increased by sharing it.
- Easily Metered: It is super easy to meter usage of data, and apply prices to that usage.
- Easily Protected: With the right approach to data security (yes, we have that!) misuse of your Big Data can be easily prevented.
- Easily Delivered: Internet! Enough said.
- Zero-Trust: Trust between parties is not required when sharing Big Data if you approach it the right way (yes, we do that!).