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2. Build confidence in data and AI models
enterprise wide. Stimulate a culture
of true data believers and data-based
decision makers, and in turn, elevate
experiences for customers and partners
along their value chains.
3. Learn how to share data on business
platforms without giving away competitive
edge. Turn the corner from amassing data
to determining how best to monetise
it, including how to build ecosystems to
create new exponential value.
How do Torchbearers establish and maintain
trust? Our study found they share three basic
business practices:
“
THE STUDY
FOCUSES ON
THE NEED FOR
TRANSPARENCY
ON HOW
COMPANIES
HANDLE
CUSTOMER DATA.
TRENDING
products are manufactured and under
what conditions.
The advantages of a reciprocal approach to
data sharing become even more apparent as
newer technologies like AI enable enterprises
to take a more personal approach to the
business-customer relationship. Blockchain,
meanwhile, is helping make trust verifiable.
Trust your own data and be ready
to share
Building a foundation of data trust involves
more than a reciprocal relationship between
a business and its customers. It begins within
the organisation. An enterprise must strive to
ensure that its data is accurate, up-to-date
and appropriately contextualised. In other
words, enterprises need to be sure they can
trust their own data.
Torchbearers also develop a culture that
is comfortable distributing data widely
within the enterprise, even to the lower
reaches of the organisation, as a way to
empower employees to make decisions. It’s
an approach that might understandably
make many executives uncomfortable.
But Torchbearers demonstrate that
democratising data can drive innovation.
Enterprise must also ensure that data trust
extends into their wider business ecosystems.
It may seem counterintuitive. But being a
reliable steward of data doesn’t necessarily
mean keeping a keeping it locked away
within the enterprise. They know data
that stays in the organisation is likely to
become stale, while circulating it outside the
company improves its value.
And so, Torchbearers are liberating their
data, allowing it to circulate within the
ecosystem. But they also scrupulously
safeguard it by enforcing strict rules about
who receives access to which sets of data.
• Emphasise accountability.
Torchbearers identify how their
customers expect them to use their data.
They then doggedly ensure that those
expectations are met or exceeded.
• Offer reciprocity. Customers must be
able to see significant value in sharing
www.intelligentcio.com
their data. Torchbearers make that value
proposition clear.
• Ensure transparency. Torchbearers make
a policy of communicating problems
promptly and fully. And they make it easy
for customers to view detailed product
information, including data about how
Trusted data is the new gold in the
emerging global economy. By building a
culture of trust in your organisation and
with your partners and customers, you
will have access to more of this precious
resource and learn how to use data to
create greater business value.
Access the full study findings here: https://
ibm.co/c-suite-study. n
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