The Business Benefits of Data Exchange
Ten years on, businesses have never had as much data–and power–as they do now. What’s more, data exchange (sharing and compiling data) between industries is on the rise, meaning this trend is set to continue. The sharing of this intelligence represents an opportunity for some companies to better understand their audiences and improve customer experience, and for others to unlock new revenue streams.
A Real Data Exchange Use Case-
This means that Telefonica is able to take anonymized television intelligence and share it with advertising agencies and media producers, which helps them better understand the market and the impact of their content on the audience. By taking a proactive approach to data monetization, Telefonica has been able to capture 30% of Spain’s lucrative digital media and advertising market, compared to the 2% telecoms operators contribute, on average, to the advertising value chain
More Benefits of Data Exchange -
The exchange of data between industries has a larger potential too: to better serve the way we live. Cities are beginning to analyze geo-data from telecom networks to inform the planning of new developments, transport links, parking sites, and traffic flow. As smart meters become more prevalent, utility companies will be using in-car telematics data to better manage the demand electric vehicles will place on the grid.
Emergency services are also looking at telematics data so they can dispatch teams more quickly in the event of an accident. Watch the model race demo below to see how emergency response systems can be linked to a vehicle so that if a crash does occur, the emergency systems know how serious the crash is and how many people are involved. This ensures those teams arrive with all the information available on the incident.
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