Data sharing boosts business outcomes but needs to be trust-based

Gartner predicts that by 2023, organizations that promote data sharing will outperform their peers on most business value metrics. Yet, at the same time, Gartner predicts that through 2022, less than 5% of data-sharing programs will correctly identify trusted data and locate trusted data sources.

The report highlights: Although it’s not easy to change the status quo, data and analytics leaders must focus on establishing trust-based mechanisms and preparing a data-sharing environment. 

Develop trust-based mechanisms that establish high levels of trust in the data source and separately in the trustworthiness of the data. This allows you to align appropriate data use with your business goals, both within and outside your organization.

It’s important to trust the quality of the data you collect, use and share to match your business context and requirements. Separately, organizations must trust their data sources so that they can rely on (and pass on to others) appropriate and enforceable rights to use, reuse, share and reshare data.

The secret is to adopt digital trust technologies, such as Torsion, to securely control the sharing of data automatically. Only then will the entire organisation have the highest level of trust in their data.