A efficient, innovative business model that is driven by data relies on the sharing of business data. It enables a thriving network of information and collaboration with partners, customers and other departments within an company. In turn, it can provide a faster time to insight and help to improve performance and create new revenue opportunities.
However, like any other important aspect of business, this procedure is not without problems. To overcome these difficulties you must have the appropriate strategies, tools and processes in place. The best method to accomplish this is to establish a culture of digital trust and transparency within the organization. It is possible to encourage collaboration between teams and stop data silos from growing which can hamper productivity.
Another concern is to ensure that your information is safe when you share it. It’s important to ensure that data that contains PII (personally identifiable info) does not fall into in the wrong hands. Typically, this can be done by aggregating data rather than sharing individual user-level data. This lets you gain the same data with less risk of leaks of data.
In the end, you’ll need ensure that your sharing practices are compliant with data protection laws in all the markets you work in. Failure to comply with this can result in significant fines and irreparable damage to your brand. This can be accomplished by updating all structure of nonprofit organizations legal agreements, policies and other information that are posted on your site.