4 Business Models for the Data Age
Organizations have always depended on data to manage operations, to communicate with customers, to pay employees and suppliers, to plan their futures, and so forth. Those with the best data have enjoyed distinct advantages in commerce, for example, better understanding the market leads to better products offered at better prices, and so forth. Data hasenabled strategy, but, with few exceptions, neither driven strategy nor satat its heart.That’s changing. Data is invading every nook and cranny of every sector, every company therein, every department, and every job. As it does, it’s flexing its strategic muscles, and four ways to compete with data are starting to emerge.In a nutshell, improving quality takes those costs out, largely by creating data correctly the first time. The sums can be enormous. AT&T, for example, saved tens of millions yearly in a single department and company-wide, giving it a great advantage.
- cost reduction through improved data quality
- content is king.
- data-driven innovation
- become increasingly data-driven, in everything one does.
