The Shift from Ownership to Access
For a few years, no digital transformation deck was complete without Tom Goodwin’s famous observation, made back in 2015, which perfectly captured the shift from ownership to access in a post-digital world. Many of the most disruptive and successful companies of the last decade haven’t focused on owning assets. Instead, they’ve focused on connecting them.
- Uber, the world’s largest taxi company, owns no vehicles
- Facebook, the world’s most popular media owner, creates no content
- Alibaba, the most valuable retailer, has no inventory
- Airbnb, the world’s largest accommodation provider, owns no real estate
These companies have successfully leveraged the power of access and collaboration to drive innovation and growth.
Data as an Asset — or a Liability?
The concept of ‘big data’ and the notion that “data is the new oil” was a dominant idea in the world of advertising and marketing, with data becoming integral to every part of marketing, from targeting to insights and performance. However, this approach has come with significant challenges, particularly when it comes to data ownership and management.
| Challenge | Description |
|---|---|
| Regulatory frameworks | GDPR, CCPA, and other regulations place stringent demands on data collection, sharing, and processing |
| Liabilities | Mishandling data can lead to massive fines, reputational damage, and loss of consumer trust |
| Cost and complexity | Building and maintaining large-scale data infrastructure is costly and complex |
In response to these challenges, a new approach has emerged: decentralised data collaboration. This approach prioritises data minimisation and the protection of consumer privacy.
Why Data Connectivity Trumps Data Ownership
Decentralised data collaboration enables companies to work together without ever needing to share raw data. This is achieved through the use of privacy-enhancing technologies (PETs) and AI techniques like federated learning.
- Companies can connect their datasets without sharing raw data
- Data remains protected within the controller’s environment
- Parties can collaborate securely without taking on each other’s data controller liabilities
For example, a brand might hold data about customer purchase history, while a media owner holds data about customer engagement with content. Through decentralised data collaboration, these datasets can be connected to generate insights about which customers are most likely to engage with specific media.
The Future of Data Collaboration
The decentralised approach to data collaboration offers a significant advantage in a privacy-first world. It enables companies to manage their data controller liabilities and the data user avoids taking on those liabilities.
- The future of data collaboration is not about building bigger data warehouses
- It’s about building better data connections
- Success will depend on how effectively companies can connect and leverage data in a privacy-safe way
In conclusion, the decentralised approach to data collaboration is revolutionising the way companies work with data. By prioritising data minimisation and consumer privacy, this approach is enabling companies to build better data connections and drive innovation and growth.
“We’re seeing a shift from big data to data minimisation, from ownership to access, and from siloed data to connected insights.
news is a contributor at gdprIQ. We are committed to providing well-researched, accurate, and valuable content to our readers.
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