In the business world, making use of data effectively means you share information with other companies in order to help them resolve their issues and make better-informed choices for long-term growth. For a company to benefit from the benefits of business data storage and sharing there must be a system in place that allows for seamless and secure access to shared data.

The biggest hurdle for many companies is changing the culture of data ownership to one that embodies sharing. In many companies, departments are hesitant to share their data with other teams because they don’t trust their colleagues. This type of culture may hinder a company’s ability to make data-driven decisions and develop profitable, sustainable partnerships.

To overcome this hurdle the company must create a system that fosters collaboration among employees and facilitates the sharing of data within the company. Technology today offers an easier and more reliable way to achieve these goals. Several businesses have established platforms for business-to-business (B2B) data sharing, which allows companies to share their information with “frenemies” within a particular industry to build more robust data sets and accomplish goals in business that they can’t accomplish by themselves.

The B2B data-sharing process can take on a variety of forms such as a simple point-topoint interface between two systems to a full-fledged marketplace for businesses to buy and sell their internal data. No matter how big or small the network however, the goal is the same: to help companies realize a return on their the investment in data analytics.

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